Mitsubishi (OTCMKTS:MSBHF) Hits New 1-Year High - Here's What Happened

Key Points

• Mitsubishi Corp. shares reached a new 52-week high of $25.88 during trading, closing at $24.97 after a volume of 5,461 shares.
• Following a report from Zacks Research, Mitsubishi's rating was downgraded from a **strong-buy** to a **hold**, with two analysts also maintaining a hold rating.
• The company reported quarterly earnings of $0.36 EPS, matching analyst expectations, but fell short on revenue with $29.27 billion against a $30.24 billion forecast.

Shares of Mitsubishi Corp. (OTCMKTS:MSBHF - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $25.88 and last traded at $24.97, with a volume of 5461 shares changing hands. The stock had previously closed at $24.56.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut shares of Mitsubishi from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Mitsubishi has an average rating of "Hold".

Mitsubishi Trading Up 1.4%

The company has a market cap of $99.09 billion, a P/E ratio of 18.32 and a beta of 0.62. The stock's 50 day moving average is $21.78 and its 200-day moving average is $19.98. The company has a current ratio of 1.46, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

Mitsubishi (OTCMKTS:MSBHF - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.36. The company had revenue of $29.27 billion for the quarter, compared to analysts' expectations of $30.24 billion. Mitsubishi had a net margin of 4.42% and a return on equity of 8.03%. Research analysts anticipate that Mitsubishi Corp. will post 1.6 earnings per share for the current fiscal year.

About Mitsubishi

Mitsubishi Corporation engages in the natural gas, industrial materials and infrastructure, petroleum and chemicals, mineral resources, automotive and mobility, food and consumer industry, power solution, and urban development businesses worldwide. The Natural Gas segment engages in the development and production of natural gas/oil; and liquified natural gas business.

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