Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Stock Price Up 6.4% - Time to Buy?

Key Points

• Mitsubishi Heavy Industries shares rose 6.4% to $25.21 in mid-day trading, although trading volume was 79% below its average.
• UBS upgraded the stock from “hold” to “strong buy,” contributing to a consensus “Buy” rating among analysts.
• The company exceeded quarterly expectations, reporting $0.24 in EPS versus the $0.15 estimate and revenue of $7.34 billion against the $7.09 billion consensus.

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Get Free Report) rose 6.4% during trading on Wednesday . The company traded as high as $25.2125 and last traded at $25.2125. Approximately 5,976 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 28,793 shares. The stock had previously closed at $23.69.

Analyst Upgrades and Downgrades

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

Mitsubishi Heavy Industries Price Performance

The stock has a fifty day moving average of $24.47 and a two-hundred day moving average of $26.86. The stock has a market cap of $81.30 billion, a price-to-earnings ratio of 31.71 and a beta of 0.51. The company has a quick ratio of 1.03, a current ratio of 1.28 and a debt-to-equity ratio of 0.19.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.15 by $0.09. The company had revenue of $7.34 billion for 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 13.20%.

Institutional Investors Weigh In On Mitsubishi Heavy Industries

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

About Mitsubishi Heavy Industries

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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