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

Key Points

• Mitsubishi Heavy Industries shares opened sharply higher, rising from a previous close of $24.50 to $26.90, although trading volume was limited at 961 shares.
• Analyst sentiment is generally positive: Bernstein initiated coverage with an “outperform” rating, while UBS upgraded the stock to “strong buy.” MarketBeat reports a consensus rating of “Buy.”
• The company exceeded quarterly expectations, reporting EPS of $0.24 versus $0.15 expected and revenue of $7.34 billion compared with estimates of $7.09 billion.

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $24.50, but opened at $26.90. Mitsubishi Heavy Industries shares last traded at $26.90, with a volume of 961 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Mitsubishi Heavy Industries in a research report on Tuesday. They issued an "outperform" rating for the company. UBS Group upgraded shares of Mitsubishi Heavy Industries from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy".

Mitsubishi Heavy Industries Trading Down 6.2%

The company has a market capitalization of $80.12 billion, a price-to-earnings ratio of 31.25 and a beta of 0.51. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.17. The business's 50 day moving average price is $24.71 and its two-hundred day moving average price is $26.21.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $7.09 billion.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Mitsubishi Heavy Industries stock. McMillan Office Inc. bought a new position in shares of Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,000 shares of the company's stock, valued at approximately $28,000.

Mitsubishi Heavy Industries Company Profile

Mitsubishi Heavy Industries, Ltd. is a Japan-based industrial group that develops and supplies large-scale equipment, systems and engineering services for customers worldwide. Its businesses support energy, infrastructure, transportation, aerospace and defense applications.

The company's products and services include gas turbines, steam turbines, boilers, power-generation systems, carbon-management and other energy technologies. Mitsubishi Heavy Industries also provides machinery and systems for chemical plants, environmental facilities, logistics and transportation, including material-handling equipment and air-conditioning systems.

In aerospace and defense, the group is involved in commercial aircraft components, launch vehicles, space systems, missile and naval equipment, and other defense-related products.

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