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

Key Points

• Mitsubishi Corp. shares opened at $24.99 after closing at $23.60, indicating a significant gap up before the market opened.
• Zacks Research downgraded Mitsubishi from a "strong-buy" to a "hold" rating, contributing to a consensus rating of "Hold" among analysts.
• For the recent quarter, Mitsubishi reported an earnings per share (EPS) of $0.36, matching the consensus estimate, but revenue fell short of expectations at $29.27 billion.

Mitsubishi Corp. (OTCMKTS:MSBHF - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $23.60, but opened at $24.99. Mitsubishi shares last traded at $24.39, with a volume of 6,109 shares trading hands.

Analyst Upgrades and Downgrades

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

Mitsubishi Stock Performance

The firm has a market cap of $95.67 billion, a P/E ratio of 17.69 and a beta of 0.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.46. The company's 50 day moving average is $21.14 and its 200 day moving average is $19.56.

Mitsubishi (OTCMKTS:MSBHF - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. The business had revenue of $29.27 billion during the quarter, compared to the consensus estimate of $30.24 billion. Mitsubishi had a net margin of 4.42% and a return on equity of 8.03%. As a group, equities analysts predict that Mitsubishi Corp. will post 1.6 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.