Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Shares Gap Up - Should You Buy?

Key Points

• Mitsubishi Heavy Industries shares opened sharply higher, rising from a previous close of $24.40 to $26.6099 before trading back at $24.40.
• Analyst sentiment is broadly positive: UBS upgraded the stock to “strong buy,” Bernstein initiated coverage with an “outperform” rating, and MarketBeat reports a consensus “Buy” rating.
• The company exceeded quarterly expectations, reporting $0.24 in earnings per share versus estimates of $0.15 and revenue of $7.34 billion versus $7.09 billion; however, its valuation stands at a P/E ratio of 33.05.

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $24.40, but opened at $26.6099. Mitsubishi Heavy Industries shares last traded at $24.40, with a volume of 77,784 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MHVYF shares. Sanford C. Bernstein assumed coverage on shares of Mitsubishi Heavy Industries in a report on Tuesday, September 15th. They issued an "outperform" rating for the company. UBS Group upgraded 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, one has issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy".

Mitsubishi Heavy Industries Stock Performance

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 firm has a fifty day simple moving average of $24.74 and a 200 day simple moving average of $26.01. The company has a market cap of $84.73 billion, a price-to-earnings ratio of 33.05 and a beta of 0.51.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $7.34 billion during the quarter, compared to analysts' expectations of $7.09 billion.

Institutional Investors 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 shares of Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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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