Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Stock Price Down 0.7% - Here's What Happened

Key Points

• Mitsubishi Heavy Industries' stock fell by 0.7% to $25.50 while trading volume increased by 49% compared to its average daily volume.
• UBS Group downgraded the company from a "strong-buy" to a "neutral" rating, though the stock still holds a consensus rating of "Buy" among analysts.
• The company reported $0.14 EPS for the last quarter, exceeding expectations and generating revenue of $8.28 billion, above analyst forecasts of $8.22 billion.

Shares of Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Get Free Report) were down 0.7% during trading on Tuesday . The stock traded as low as $24.75 and last traded at $25.50. Approximately 45,448 shares changed hands during mid-day trading, an increase of 49% from the average daily volume of 30,418 shares. The stock had previously closed at $25.69.

Analysts Set New Price Targets

Separately, UBS Group downgraded shares of Mitsubishi Heavy Industries from a "strong-buy" rating to a "neutral" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Mitsubishi Heavy Industries currently has a consensus rating of "Buy".

Mitsubishi Heavy Industries Stock Performance

The company has a market cap of $82.82 billion, a P/E ratio of 49.10 and a beta of 0.58. The company's 50-day moving average is $24.74 and its two-hundred day moving average is $21.15. The company has a quick ratio of 0.88, a current ratio of 1.22 and a debt-to-equity ratio of 0.31.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $8.28 billion during the quarter, compared to analyst estimates of $8.22 billion. Mitsubishi Heavy Industries had a net margin of 4.92% and a return on equity of 10.23%.

About Mitsubishi Heavy Industries

Mitsubishi Heavy Industries, Ltd. manufactures and sells heavy machinery worldwide. It operates through Energy Systems; Plants & Infrastructure Systems; Logistics, Thermal & Drive Systems; and Aircraft, Defense & Space segments. The company offers thermal, renewable energy, nuclear power generation, and engine power plants; oil and gas production plants; lithium-ion battery products and fuel cells; civil aircrafts and engines, aviation equipment, and maintenance, repair, and overhaul of aircrafts; and launch vehicles and services, rocket engines, reaction control systems, space stations, rocket launchers, rocket engine combustion test facilities, and electronic parts.