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

Key Points

• Mitsubishi Heavy Industries shares jumped, opening at $26.59 versus a prior close of $23.70, before trading at $25.1450 on limited volume.
• UBS upgraded the stock from “hold” to “strong buy,” contributing to a consensus “Buy” rating among analysts.
• The company exceeded quarterly expectations, reporting EPS of $0.24 versus $0.15 expected and revenue of $7.34 billion versus a $7.09 billion consensus estimate.

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $23.70, but opened at $26.59. Mitsubishi Heavy Industries shares last traded at $25.1450, with a volume of 254 shares traded.

Wall Street Analyst Weigh In

Separately, UBS Group raised Mitsubishi Heavy Industries from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Mitsubishi Heavy Industries currently has a consensus rating of "Buy".

Mitsubishi Heavy Industries Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.28. The company has a market capitalization of $84.83 billion, a P/E ratio of 33.09 and a beta of 0.51. The business's fifty day simple moving average is $24.51 and its 200-day simple moving average is $26.73.

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

Hedge Funds Weigh In On Mitsubishi Heavy Industries

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 its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 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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