Hitachi (OTCMKTS:HTHIY) Stock Price Breaks Below 50 Day Moving Average Following Weak Earnings

Key Points

• Hitachi shares fell 10.6%, trading as low as $32.07 and breaking below the 50-day moving average of $35.02 after the company reported disappointing quarterly results.
• Hitachi reported earnings per share of $0.32 and revenue of $18.40 billion, both slightly below analyst expectations of $0.33 EPS and $18.51 billion in revenue.
• Despite the earnings miss, analysts remain bullish: two rate the stock “Strong Buy” and one rates it “Buy,” giving Hitachi an overall average rating of “Strong Buy.”

Hitachi Ltd. (OTCMKTS:HTHIY - Get Free Report)'s stock price crossed below its fifty day moving average during trading on Thursday following a dissappointing earnings announcement. The stock has a fifty day moving average of $35.02 and traded as low as $32.07. Hitachi shares last traded at $32.66, with a volume of 1,620,065 shares traded.

The conglomerate reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The firm had revenue of $18.40 billion during the quarter, compared to the consensus estimate of $18.51 billion. Hitachi had a return on equity of 10.94% and a net margin of 6.53%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Zacks Research raised shares of Hitachi from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 2nd. Sanford C. Bernstein initiated coverage on Hitachi in a research note on Tuesday, September 15th. They set an "outperform" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Strong Buy".

Hitachi Trading Down 10.6%

The firm's 50 day moving average is $35.02 and its 200 day moving average is $32.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.09 and a quick ratio of 0.83. The company has a market capitalization of $148.13 billion, a PE ratio of 30.81, a P/E/G ratio of 1.28 and a beta of 0.97.

Hitachi Company Profile

Hitachi, Ltd. is a Japanese technology and engineering company that develops digital, infrastructure and industrial solutions for customers worldwide. Founded in 1910 and headquartered in Tokyo, the company has evolved from an electrical equipment manufacturer into a diversified provider of systems and services supporting social infrastructure and business operations.

Hitachi's principal activities include digital systems and services, energy systems, railway systems, industrial equipment and healthcare technology.

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