Mitsubishi (OTCMKTS:MSBHF) Trading 6.5% Higher on Better-Than-Expected Earnings

Shares of Mitsubishi Corp. (OTCMKTS:MSBHF) rose 6.5% during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $29.50 and last traded at $29.50. Approximately 1,027 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 11,554 shares. The stock had previously closed at $27.70.

The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $32.18 billion during the quarter, compared to analysts’ expectations of $27.57 billion. Mitsubishi had a net margin of 3.99% and a return on equity of 7.36%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group assumed coverage on Mitsubishi in a research report on Tuesday, January 6th. They issued a “neutral” rating on the stock. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Mitsubishi Stock Performance

The firm’s 50 day simple moving average is $24.74 and its 200 day simple moving average is $23.58. The firm has a market cap of $124.46 billion, a PE ratio of 24.65 and a beta of 0.64. The company has a current ratio of 1.44, a quick ratio of 1.13 and a debt-to-equity ratio of 0.38.

Mitsubishi Company Profile

Mitsubishi is a long-established Japanese business family and brand that today encompasses a group of independent companies operating across a wide range of industries. The Mitsubishi name traces back to the late 19th century and the founding of a shipping firm that grew into a diversified industrial and trading conglomerate. Over time the original zaibatsu was reorganized into a number of separately managed companies that nonetheless share the Mitsubishi mark and coordinate through cross-shareholdings and business relationships.

Companies using the Mitsubishi name are active in sectors including industrial machinery and heavy equipment, automotive manufacturing, electrical and electronic equipment, chemicals and materials, energy and natural resources, trading and logistics, finance and banking, real estate, and food and consumer products.