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

Key Points

• Mitsubishi shares gapped up pre-market, opening at $33.25 versus a prior close of $31.725, with about 1,701 shares trading when last quoted.
• Goldman Sachs initiated coverage with a "neutral" rating and MarketBeat shows a consensus "Hold" from analysts, suggesting limited near-term upside from analysts' views.
• Quarterly results beat expectations—EPS $0.43 vs. $0.37 expected and revenue $32.18B vs. $27.57B expected—while the firm has a market cap of ~$129.97B, a P/E of 25.74, and rising 50- and 200-day moving averages.

Mitsubishi Corp. (OTCMKTS:MSBHF - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $31.7250, but opened at $33.25. Mitsubishi shares last traded at $33.25, with a volume of 1,701 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group initiated coverage on Mitsubishi in a research report on Tuesday, January 6th. They set a "neutral" rating for the company. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, Mitsubishi presently has a consensus rating of "Hold".

Mitsubishi Price Performance

The firm has a market cap of $129.97 billion, a P/E ratio of 25.74 and a beta of 0.59. The company has a quick ratio of 1.06, a current ratio of 1.36 and a debt-to-equity ratio of 0.41. The business's 50 day moving average is $28.88 and its two-hundred day moving average is $25.50.

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

About Mitsubishi

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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