Mitsubishi (OTCMKTS:MSBHF) Reaches New 1-Year High - Still a Buy?

Key Points

• Mitsubishi Corp. shares reached a new 52-week high at $24.33, closing at $23.91 with a trading volume of 35,246 shares.
• Analysts from Zacks Research downgraded Mitsubishi's rating from "strong-buy" to "hold", reflecting a cautious outlook on the stock.
• The company reported earnings of $0.36 per share, matching estimates, but fell short on revenue with $29.27 billion compared to the consensus of $30.24 billion.

Mitsubishi Corp. (OTCMKTS:MSBHF - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $24.33 and last traded at $23.91, with a volume of 35246 shares changing hands. The stock had previously closed at $23.38.

Wall Street Analyst Weigh In

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

Mitsubishi Stock Up 0.6%

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.46 and a quick ratio of 1.14. The firm's 50-day moving average is $21.21 and its 200 day moving average is $19.61. The stock has a market cap of $94.37 billion, a price-to-earnings ratio of 17.45 and a beta of 0.62.

Mitsubishi (OTCMKTS:MSBHF - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. Mitsubishi had a net margin of 4.42% and a return on equity of 8.03%. The company had revenue of $29.27 billion during the quarter, compared to the consensus estimate of $30.24 billion. Sell-side 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.