Mitsubishi (OTCMKTS:MSBHF) Reaches New 12-Month High - Time to Buy?

Key Points

• Mitsubishi Corp. stock hit a new 52-week high intraday at $37.15 and last traded at $34.48 on light volume (2,465 shares).
• The company beat quarterly expectations with EPS of $0.43 versus $0.37 expected and revenue of $32.18 billion versus $27.57 billion, while analysts forecast roughly 1.6 EPS for the fiscal year.
• Goldman Sachs initiated coverage with a neutral rating and MarketBeat shows a consensus Hold; the stock has a market cap of about $136.6 billion and a P/E of ~27.

Mitsubishi Corp. (OTCMKTS:MSBHF - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The company traded as high as $37.15 and last traded at $34.48, with a volume of 2465 shares trading hands. The stock had previously closed at $35.40.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group initiated coverage on Mitsubishi in a report on Tuesday, January 6th. They set a "neutral" rating on the stock. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Mitsubishi presently has a consensus rating of "Hold".

Mitsubishi Stock Performance

The company has a market capitalization of $136.59 billion, a price-to-earnings ratio of 27.05 and a beta of 0.58. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.36 and a quick ratio of 1.06. The stock has a 50 day moving average price of $32.63 and a two-hundred day moving average price of $27.03.

Mitsubishi (OTCMKTS:MSBHF - Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported $0.43 earnings per share for the quarter, beating 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 company had revenue of $32.18 billion during the quarter, compared to analyst estimates of $27.57 billion. On average, analysts predict 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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