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

Key Points

• Mitsubishi Heavy Industries shares gapped higher, opening at $25.9299 versus a previous close of $23.63, though they later traded at $23.50 on light volume.
• Analyst sentiment is positive: UBS upgraded the stock to “strong buy,” Bernstein initiated coverage with an “outperform” rating, and MarketBeat reports a consensus rating of “Buy.”
• The company beat quarterly expectations, reporting $0.24 EPS versus a $0.15 estimate and $7.34 billion in revenue versus $7.09 billion expected.

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Get Free Report) gapped up prior to trading on Thursday. The stock had previously closed at $23.63, but opened at $25.9299. Mitsubishi Heavy Industries shares last traded at $23.50, with a volume of 514 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MHVYF. UBS Group raised Mitsubishi Heavy Industries from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 13th. Sanford C. Bernstein started coverage on Mitsubishi Heavy Industries in a report on Tuesday, September 15th. They issued an "outperform" rating for the company. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned 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 stock has a market cap of $79.28 billion, a price-to-earnings ratio of 30.92 and a beta of 0.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.26 and a quick ratio of 0.98. The stock's 50 day simple moving average is $24.71 and its two-hundred day simple moving average is $25.29.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF - Get Free Report) last announced 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 company 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 12.97%.

Institutional Inflows and Outflows

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

About Mitsubishi Heavy Industries

Mitsubishi Heavy Industries, Ltd. is a Japan-based industrial engineering and manufacturing company that develops and supplies large-scale equipment, systems and infrastructure for customers around the world. Its operations span energy, industrial machinery, infrastructure, transportation, aerospace and defense.

The company provides gas turbines, steam turbines, boilers, power-generation systems and carbon-reduction technologies, as well as machinery and systems used in factories, logistics operations and environmental applications.

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