Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Shares Gap Down - Here's What Happened

Key Points

• Mitsubishi Heavy Industries shares fell 7.5%, opening at $24.55 versus a prior close of $26.05 and last trading at $23.60.
• Despite the decline, UBS upgraded the stock to “strong buy”, contributing to a consensus “Buy” rating from analysts.
• The company exceeded quarterly expectations, reporting EPS of $0.24 versus $0.15 estimated and revenue of $7.34 billion versus $7.09 billion expected.

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $26.05, but opened at $24.55. Mitsubishi Heavy Industries shares last traded at $23.60, with a volume of 17,947 shares.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded Mitsubishi Heavy Industries from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy".

Mitsubishi Heavy Industries Stock Down 7.5%

The business's 50-day moving average is $24.45 and its two-hundred day moving average is $27.04. The firm has a market capitalization of $81.30 billion, a price-to-earnings ratio of 31.71 and a beta of 0.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.28.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.09. The firm had revenue of $7.34 billion during the quarter, compared to analysts' expectations of $7.09 billion. Mitsubishi Heavy Industries had a net margin of 7.04% and a return on equity of 13.20%.

Institutional Trading of Mitsubishi Heavy Industries

A hedge fund recently bought a new stake in Mitsubishi Heavy Industries stock. McMillan Office Inc. acquired a new position in shares of Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,000 shares of the company's stock, valued at approximately $28,000.

Mitsubishi Heavy Industries Company Profile

Mitsubishi Heavy Industries is a diversified Japanese industrial conglomerate engaged in the design, manufacture and servicing of large-scale capital equipment and systems. The company's activities span shipbuilding and marine propulsion; power and energy systems including gas turbines, boilers and related power-plant equipment; and industrial machinery for sectors ranging from chemicals and manufacturing to environmental control. MHI also supplies heating, ventilation and air-conditioning systems and other building-related equipment for commercial and industrial customers.

In addition to its heavy engineering businesses, Mitsubishi Heavy Industries is a major participant in aerospace, space and defense markets.

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