Mitsubishi (OTCMKTS:MSBHF) Shares Gap Up - Still a Buy?

Key Points

• Mitsubishi shares initially gapped up from a prior close of $31.30 to open at $33.50, but later traded at $31.1550, down 6.7%.
• Zacks Research upgraded the stock from “hold” to “strong buy,” contributing to a broader analyst consensus rating of “Buy.”
• Mitsubishi exceeded quarterly expectations, reporting $0.51 EPS versus $0.48 expected and revenue of $31.86 billion compared with the $26.46 billion consensus estimate.

Shares of Mitsubishi Corp. (OTCMKTS:MSBHF - Get Free Report) gapped up prior to trading on Tuesday. The stock had previously closed at $31.30, but opened at $33.50. Mitsubishi shares last traded at $31.1550, with a volume of 1,877 shares.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Mitsubishi from a "hold" rating to a "strong-buy" rating in a report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy".

Mitsubishi Trading Down 6.7%

The stock's fifty day simple moving average is $30.72 and its two-hundred day simple moving average is $30.79. The firm has a market cap of $108.25 billion, a PE ratio of 18.97 and a beta of 0.49. The company has a quick ratio of 1.10, a current ratio of 1.46 and a debt-to-equity ratio of 0.39.

Mitsubishi (OTCMKTS:MSBHF - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. Mitsubishi had a net margin of 4.49% and a return on equity of 8.92%. The firm had revenue of $31.86 billion during the quarter, compared to analyst estimates of $26.46 billion. On average, sell-side analysts forecast that Mitsubishi Corp. will post 2.37 EPS for the current fiscal year.

Mitsubishi Company Profile

Mitsubishi Corporation OTCMKTS: MSBHF is a Japan-based global trading and business investment company. The company develops and manages businesses across a range of industries, working with partners and customers through its international network.

Its activities include natural gas and other energy businesses, mineral resources, chemicals, industrial infrastructure, mobility, food and consumer products, and power generation. Mitsubishi Corporation is involved in the development, financing, trading, and operation of projects and businesses rather than focusing on a single product line.

Headquartered in Tokyo, Mitsubishi Corporation serves customers and business partners across Japan and international markets.

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