Mitsubishi (OTCMKTS:MSBHF) Shares Gap Up Following Strong Earnings

Mitsubishi Corp. (OTCMKTS:MSBHF) shares gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $27.70, but opened at $31.13. Mitsubishi shares last traded at $30.76, with a volume of 3,423 shares trading hands.

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

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group started coverage on shares of Mitsubishi in a research report on Tuesday, January 6th. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Mitsubishi Price Performance

The company’s fifty day simple moving average is $24.74 and its two-hundred day simple moving average is $23.61. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.13 and a current ratio of 1.44. The stock has a market capitalization of $124.46 billion, a PE ratio of 24.65 and a beta of 0.64.

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.