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

Key Points

• Mitsubishi Heavy Industries shares gapped down sharply, opening at $20.84 versus a prior close of $24.2750, before recovering to $23.84 on light volume.
• Analyst sentiment remains positive: UBS upgraded the stock to “strong buy,” Bernstein initiated coverage with an “outperform” rating, and MarketBeat reports a consensus “Buy” rating.
• The company recently exceeded quarterly expectations, reporting earnings of $0.24 per share versus a $0.15 estimate and revenue of $7.34 billion versus $7.09 billion expected.

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Get Free Report) gapped down prior to trading on Monday. The stock had previously closed at $24.2750, but opened at $20.84. Mitsubishi Heavy Industries shares last traded at $23.84, with a volume of 417 shares.

Analysts Set New Price Targets

A number of research firms have issued reports on MHVYF. UBS Group upgraded Mitsubishi Heavy Industries from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 13th. Sanford C. Bernstein began coverage on Mitsubishi Heavy Industries in a report on Tuesday, September 15th. They issued an "outperform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Mitsubishi Heavy Industries has a consensus rating of "Buy".

Mitsubishi Heavy Industries Price Performance

The company has a current ratio of 1.26, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The company has a 50 day simple moving average of $25.00 and a 200 day simple moving average of $25.56. The stock has a market cap of $80.60 billion, a P/E ratio of 31.44 and a beta of 0.52.

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

Institutional Inflows and Outflows

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

About Mitsubishi Heavy Industries

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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