Mitsubishi (OTCMKTS:MSBHF) Shares Gap Down - Time to Sell?

Key Points

• Mitsubishi Corp. shares gapped down before trading, opening at $23.30 compared to a previous close of $24.05.
• Zacks Research downgraded Mitsubishi from a "strong-buy" to a "hold" rating, reflecting a cautious outlook with an average rating of "hold" from analysts.
• The company reported quarterly earnings of $0.36 per share, which met analysts' expectations, but its revenue fell short at $29.27 billion against an estimate of $30.24 billion.

Mitsubishi Corp. (OTCMKTS:MSBHF - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $24.05, but opened at $23.30. Mitsubishi shares last traded at $23.20, with a volume of 2,875 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut shares of 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 data from MarketBeat.com, Mitsubishi presently has an average rating of "Hold".

Mitsubishi Price Performance

The company's 50-day moving average is $22.85 and its 200-day moving average is $20.48. 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 has a market capitalization of $91.54 billion, a price-to-earnings ratio of 16.93 and a beta of 0.62.

Mitsubishi (OTCMKTS:MSBHF - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.36. The company had revenue of $29.27 billion for the quarter, compared to analyst estimates of $30.24 billion. Mitsubishi had a net margin of 4.42% and a return on equity of 8.03%. On average, research analysts expect 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.

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