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.

Shares of Mitsubishi Corp. (OTCMKTS:MSBHF - Get Free Report) gapped up prior to trading 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.

Analysts Set New Price Targets

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

Mitsubishi Trading Up 0.2%

The firm has a market capitalization of $94.20 billion, a price-to-earnings ratio of 17.42 and a beta of 0.62. The company has a fifty day moving average price of $21.36 and a two-hundred day moving average price of $19.74. 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 posted its earnings results on Monday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. The company had revenue of $29.27 billion during the quarter, compared to analysts' expectations of $30.24 billion. Mitsubishi had a return on equity of 8.03% and a net margin of 4.42%. As a group, research analysts forecast that Mitsubishi Corp. will post 1.6 earnings per share for the current fiscal 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.