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

Key Points

• Mitsubishi Heavy Industries shares fell sharply, opening at $22.56 compared with the previous close of $24.90, though trading volume was only 427 shares.
• Analyst sentiment remains positive overall: UBS upgraded the stock to “strong buy,” Bernstein initiated coverage with an “outperform” rating, and MarketBeat reports an average rating of “Buy.”
• The company recently exceeded quarterly expectations, reporting EPS of $0.24 versus a $0.15 estimate and revenue of $7.34 billion against a $7.09 billion consensus forecast.

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Get Free Report) shares gapped down prior to trading on Tuesday. The stock had previously closed at $24.90, but opened at $22.56. Mitsubishi Heavy Industries shares last traded at $22.56, with a volume of 427 shares.

Analyst Ratings Changes

MHVYF has been the topic of several recent research reports. UBS Group raised shares of Mitsubishi Heavy Industries from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 13th. Sanford C. Bernstein initiated coverage on shares of Mitsubishi Heavy Industries in a research report on Tuesday, September 15th. They issued an "outperform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Mitsubishi Heavy Industries presently has an average rating of "Buy".

Mitsubishi Heavy Industries Stock Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.26. The company has a market capitalization of $84.34 billion, a P/E ratio of 32.90 and a beta of 0.51. The business has a 50 day moving average of $24.83 and a 200-day moving average of $25.90.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.15 by $0.09. Mitsubishi Heavy Industries had a return on equity of 12.97% and a net margin of 7.04%.The business had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.09 billion.

Institutional Trading of Mitsubishi Heavy Industries

An institutional investor recently bought a new stake in Mitsubishi Heavy Industries stock. McMillan Office Inc. purchased a new stake in Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,000 shares of the company's stock, valued at approximately $28,000.

Mitsubishi Heavy Industries Company Profile

Mitsubishi Heavy Industries, Ltd. OTCMKTS: MHVYF is a Japan-based industrial company that develops and manufactures large-scale equipment, systems and infrastructure for customers worldwide. Its roots trace to the establishment of the Nagasaki Shipyard in 1884, while the modern company was formed in 1934 through the merger of Mitsubishi Shipbuilding and Mitsubishi Aircraft.

The company's activities include power-generation equipment and energy systems, including gas turbines, steam turbines, nuclear-power technologies and related services.

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