Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Stock Price Down 11.1% - Here's Why

Key Points

• Mitsubishi Heavy Industries shares fell 11.1% to $24.08, although trading volume was exceptionally light at just 359 shares—99% below the average session volume.
• UBS upgraded the stock from “hold” to “strong buy,” giving the company an overall analyst consensus rating of “Buy.”
• The company recently exceeded quarterly expectations, reporting $0.24 in EPS versus a $0.15 consensus and revenue of $7.34 billion versus $7.09 billion expected.

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Get Free Report)'s share price traded down 11.1% during trading on Thursday . The stock traded as low as $24.08 and last traded at $24.08. 359 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 29,880 shares. The stock had previously closed at $27.0785.

Analyst Upgrades and Downgrades

Separately, UBS Group upgraded Mitsubishi Heavy Industries from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy".

Mitsubishi Heavy Industries Stock Performance

The company has a current ratio of 1.28, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. The firm's 50-day moving average is $24.16 and its two-hundred day moving average is $27.24. The stock has a market cap of $81.24 billion, a price-to-earnings ratio of 31.68 and a beta of 0.50.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.09. Mitsubishi Heavy Industries had a return on equity of 13.20% and a net margin of 7.04%.The company had revenue of $7.34 billion for the quarter, compared to analysts' expectations of $7.09 billion.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Mitsubishi Heavy Industries stock. McMillan Office Inc. bought a new position in shares of Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,000 shares of the company's stock, valued at approximately $28,000.

Mitsubishi Heavy Industries Company Profile

Mitsubishi Heavy Industries is a diversified Japanese industrial conglomerate engaged in the design, manufacture and servicing of large-scale capital equipment and systems. The company's activities span shipbuilding and marine propulsion; power and energy systems including gas turbines, boilers and related power-plant equipment; and industrial machinery for sectors ranging from chemicals and manufacturing to environmental control. MHI also supplies heating, ventilation and air-conditioning systems and other building-related equipment for commercial and industrial customers.

In addition to its heavy engineering businesses, Mitsubishi Heavy Industries is a major participant in aerospace, space and defense markets.

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