Mitsubishi (OTCMKTS:MSBHF) Hits New 12-Month High - Should You Buy?

Key Points

• Mitsubishi Corp. (OTCMKTS:MSBHF) reached a new 52-week high of $23.74, closing at $22.70 with a trading volume of 7,557 shares.
• Analysts from Zacks Research downgraded the stock from a "strong-buy" to a "hold" rating, reflecting a cautious sentiment among Wall Street experts.
• The company's latest quarterly earnings met consensus estimates, reporting $0.36 earnings per share against revenue of $29.27 billion, slightly below the expected $30.24 billion.

Mitsubishi Corp. (OTCMKTS:MSBHF - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $23.74 and last traded at $22.70, with a volume of 7557 shares traded. The stock had previously closed at $21.50.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered Mitsubishi from a "strong-buy" rating to a "hold" rating in a research report on Monday. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of "Hold".

Mitsubishi Stock Performance

The firm has a market cap of $92.07 billion, a price-to-earnings ratio of 17.03 and a beta of 0.58. The company has a quick ratio of 1.17, a current ratio of 1.49 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average price of $20.44 and a 200-day moving average price of $19.06.

Mitsubishi (OTCMKTS:MSBHF - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.36 earnings per share for the quarter, meeting analysts' consensus estimates of $0.36. The firm had revenue of $29.27 billion for the quarter, compared to the consensus estimate of $30.24 billion. Mitsubishi had a return on equity of 8.03% and a net margin of 4.42%. On average, analysts expect 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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