Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Stock Falls 8.9% - Here's What Happened

Key Points

• Mitsubishi Heavy Industries shares fell 8.9% to $23.20, with only 515 shares traded—98% below average volume.
• Despite the drop, analysts maintain a positive outlook: UBS upgraded the stock to “strong buy,” Sanford C. Bernstein initiated coverage with an “outperform” rating, and the consensus rating is “Buy.”
• The company recently exceeded quarterly expectations, reporting $0.24 in earnings per share 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)'s share price dropped 8.9% on Friday. The stock traded as low as $23.20 and last traded at $23.20. Approximately 515 shares changed hands during trading, a decline of 98% from the average session volume of 28,116 shares. The stock had previously closed at $25.4550.

Analyst Upgrades and Downgrades

MHVYF has been the topic of several analyst reports. Sanford C. Bernstein assumed coverage on shares of Mitsubishi Heavy Industries in a report on Tuesday, September 15th. They issued an "outperform" rating on the stock. UBS Group raised Mitsubishi Heavy Industries from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

Mitsubishi Heavy Industries Price Performance

The company's 50-day moving average price is $24.99 and its 200-day moving average price is $25.60. 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 company has a market cap of $86.67 billion, a P/E ratio of 33.80 and a beta of 0.52.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF - Get Free Report) last announced its earnings results 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. The firm had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.09 billion. Mitsubishi Heavy Industries had a net margin of 7.04% and a return on equity of 12.97%.

Institutional Trading of Mitsubishi Heavy Industries

An institutional investor recently bought a new position 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.

Mitsubishi Heavy Industries Company Profile

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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