Mitsubishi (OTCMKTS:MSBHF) Shares Gap Down - What's Next?

Key Points

• Mitsubishi shares gapped down — the stock opened at $28.54 after a prior close of $31.445 and was last trading around $30.05 with a volume of 12,848 shares.
• Goldman Sachs initiated coverage with a "neutral" rating, and the consensus from two analysts is an overall "Hold" on the stock.
• Quarterly results beat expectations — Mitsubishi reported $0.43 EPS versus $0.37 expected and revenue of $32.18 billion versus $27.57 billion, with a P/E of 24.45 and market capitalization of $123.49 billion.

Mitsubishi Corp. (OTCMKTS:MSBHF - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $31.4450, but opened at $28.54. Mitsubishi shares last traded at $30.05, with a volume of 12,848 shares changing hands.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group started coverage on Mitsubishi in a research note on Tuesday, January 6th. They issued a "neutral" rating on the stock. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold".

Mitsubishi Stock Down 1.2%

The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.06 and a current ratio of 1.36. The company's 50-day moving average price is $28.50 and its 200 day moving average price is $25.35. The stock has a market capitalization of $123.49 billion, a P/E ratio of 24.45 and a beta of 0.59.

Mitsubishi (OTCMKTS:MSBHF - Get Free Report) last released its earnings results on Thursday, February 5th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Mitsubishi had a return on equity of 7.43% and a net margin of 3.99%.The firm had revenue of $32.18 billion during the quarter, compared to analysts' expectations of $27.57 billion. As a group, equities analysts expect that Mitsubishi Corp. will post 1.6 earnings per share for the current year.

Mitsubishi Company Profile

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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