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

Key Points

• 52-week high: Mitsubishi's OTC stock hit a new 52-week high intraday at $35.1113 and last traded at $34.6350 on a volume of 14,055 shares.
• Earnings beat: The company reported $0.43 EPS for the quarter versus $0.37 expected and revenue of $32.18 billion versus $27.57 billion expected, with a return on equity of 7.43%.
• Analyst stance: Goldman Sachs began coverage with a "neutral" rating and the stock's consensus rating remains "Hold."

Mitsubishi Corp. (OTCMKTS:MSBHF - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $35.1113 and last traded at $34.6350, with a volume of 14055 shares traded. The stock had previously closed at $34.2001.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group began coverage on shares of Mitsubishi in a research report on Tuesday, January 6th. They issued a "neutral" rating on the stock. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold".

Mitsubishi Stock Performance

The firm has a market cap of $139.24 billion, a price-to-earnings ratio of 27.57 and a beta of 0.59. The stock has a 50-day moving average of $30.78 and a 200-day moving average of $26.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.06 and a current ratio of 1.36.

Mitsubishi (OTCMKTS:MSBHF - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.06. Mitsubishi had a return on equity of 7.43% and a net margin of 3.99%.The firm had revenue of $32.18 billion during the quarter, compared to the consensus estimate of $27.57 billion. As a group, analysts anticipate that Mitsubishi Corp. will post 1.6 EPS for the current fiscal year.

About Mitsubishi

Mitsubishi is a long-established Japanese business family and brand that today encompasses a group of independent companies operating across a wide range of industries. The Mitsubishi name traces back to the late 19th century and the founding of a shipping firm that grew into a diversified industrial and trading conglomerate. Over time the original zaibatsu was reorganized into a number of separately managed companies that nonetheless share the Mitsubishi mark and coordinate through cross-shareholdings and business relationships.

Companies using the Mitsubishi name are active in sectors including industrial machinery and heavy equipment, automotive manufacturing, electrical and electronic equipment, chemicals and materials, energy and natural resources, trading and logistics, finance and banking, real estate, and food and consumer products.

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