Mitsubishi (OTCMKTS:MSBHF) Shares Down 5.7% - Here's What Happened

Key Points

• Shares fell 5.7% to $31.75 on Wednesday (intraday low $31.53) while trading volume plunged about 91% to roughly 1,972 shares versus the 22,903 average.
• Goldman Sachs initiated coverage with a neutral rating and the consensus across analysts remains a Hold.
• Mitsubishi beat quarterly estimates with EPS of $0.43 versus $0.37 expected and revenue of $32.18 billion versus $27.57 billion, despite the stock decline.

Mitsubishi Corp. (OTCMKTS:MSBHF - Get Free Report) was down 5.7% during trading on Wednesday . The stock traded as low as $31.53 and last traded at $31.75. Approximately 1,972 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 22,903 shares. The stock had previously closed at $33.66.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group initiated coverage on Mitsubishi in a research note on Tuesday, January 6th. They set a "neutral" rating for the company. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold".

Mitsubishi Trading Down 4.5%

The stock has a 50 day simple moving average of $33.37 and a 200-day simple moving average of $27.37. The firm has a market capitalization of $127.64 billion, a P/E ratio of 25.28 and a beta of 0.58. The company has a current ratio of 1.36, a quick ratio of 1.06 and a debt-to-equity ratio of 0.41.

Mitsubishi (OTCMKTS:MSBHF - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. The business had revenue of $32.18 billion during the quarter, compared to the consensus estimate of $27.57 billion. Mitsubishi had a return on equity of 7.43% and a net margin of 3.99%. On average, equities research analysts forecast 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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