Mitsubishi (OTCMKTS:MSBHF) Shares Gap Up - Time to Buy?

Key Points

• Mitsubishi Corp. shares opened at $24.00 after gapping up from a previous close of $22.60, with a last traded price of $23.94.
• Zacks Research downgraded Mitsubishi from a "strong-buy" to a "hold" rating, resulting in a current consensus rating of "Hold" among analysts.
• The company reported $0.36 earnings per share for the last quarter, which met analysts' expectations, but its revenue of $29.27 billion fell short of the anticipated $30.24 billion.

Mitsubishi Corp. (OTCMKTS:MSBHF - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $22.60, but opened at $24.00. Mitsubishi shares last traded at $23.94, with a volume of 4,072 shares.

Analyst Upgrades and Downgrades

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

Mitsubishi Stock Up 2.2%

The firm's 50 day moving average is $20.91 and its two-hundred day moving average is $19.39. The firm has a market cap of $92.97 billion, a P/E ratio of 17.19 and a beta of 0.62. The company has a current ratio of 1.46, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

Mitsubishi (OTCMKTS:MSBHF - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.36 earnings per share 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 business had revenue of $29.27 billion for the quarter, compared to analyst estimates of $30.24 billion. As a group, research analysts anticipate that Mitsubishi Corp. will post 1.6 EPS for the current fiscal year.

Mitsubishi Company Profile

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.