Mitsubishi (OTCMKTS:MSBHF) Hits New 12-Month High - What's Next?

Key Points

• Mitsubishi Corp. shares reached a new 52-week high of $24.31 before closing at $23.30, with a trading volume of 33,878 shares.
• Analysts have downgraded Mitsubishi's rating from "strong-buy" to "hold", with the consensus rating remaining at "Hold".
• The company reported $0.36 EPS for the last quarter, meeting analysts’ expectations but falling short of revenue projections, generating $29.27 billion against the anticipated $30.24 billion.

Mitsubishi Corp. (OTCMKTS:MSBHF - Get Free Report)'s share price hit a new 52-week high on Wednesday . The stock traded as high as $24.31 and last traded at $23.30, with a volume of 33878 shares trading hands. The stock had previously closed at $22.60.

Analysts Set New Price Targets

Separately, Zacks Research downgraded 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, According to MarketBeat, the stock presently has a consensus rating of "Hold".

Mitsubishi Stock Up 2.2%

The stock has a market capitalization of $92.97 billion, a price-to-earnings ratio of 17.19 and a beta of 0.62. The company has a quick ratio of 1.14, a current ratio of 1.46 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average of $20.91 and a two-hundred day moving average of $19.42.

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 the consensus estimate of $0.36. The firm had revenue of $29.27 billion for the quarter, compared to analyst estimates of $30.24 billion. Mitsubishi had a return on equity of 8.03% and a net margin of 4.42%. As a group, sell-side analysts anticipate that Mitsubishi Corp. will post 1.6 earnings per share for the current 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.