Mitsubishi Electric (MIELY) Expected to Announce Earnings on Friday

Key Points

• Mitsubishi Electric is expected to report earnings after Friday’s market close, with analysts forecasting $0.8020 in earnings per share and $9.79 billion in revenue.
• The company exceeded expectations in its previous quarter, posting $0.67 EPS versus the $0.63 consensus and $9.40 billion in revenue versus the $8.75 billion estimate.
• Shares were down 1.9% at $61.72, while analysts maintain an overall “Buy” rating; recent coverage included an “outperform” rating from Bernstein and a “strong-buy” upgrade from Zacks Research.

Mitsubishi Electric (OTCMKTS:MIELY - Get Free Report) is expected to be posting its results after the market closes on Friday, October 30th. Analysts expect the company to post earnings of $0.8020 per share and revenue of $9.79 billion for the quarter.

Mitsubishi Electric (OTCMKTS:MIELY - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. The firm had revenue of $9.40 billion during the quarter, compared to analysts' expectations of $8.75 billion.

Mitsubishi Electric Stock Down 1.9%

Mitsubishi Electric stock opened at $61.72 on Friday. Mitsubishi Electric has a twelve month low of $50.20 and a twelve month high of $86.00. The company has a market capitalization of $65.21 billion, a P/E ratio of 47.11 and a beta of 0.81. The stock's 50 day moving average is $67.16 and its 200 day moving average is $71.82.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MIELY. Sanford C. Bernstein began coverage on Mitsubishi Electric in a research note on Tuesday, September 15th. They issued an "outperform" rating for the company. Zacks Research raised Mitsubishi Electric from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Mitsubishi Electric currently has an average rating of "Buy".

Mitsubishi Electric Company Profile

Mitsubishi Electric Corporation is a Japan-based global manufacturer of electrical and electronic equipment. Founded in 1921 and headquartered in Tokyo, the company develops products and systems for infrastructure, industry, mobility, buildings, homes and information technology.

Its offerings include factory automation equipment, industrial robots, power generation and transmission systems, railway and transportation equipment, elevators and escalators, heating and cooling systems, air conditioners, home appliances, automotive components, semiconductors and other electronic devices.

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