Mitsubishi (OTCMKTS:MSBHF) Shares Gap Up – Time to Buy?

Mitsubishi Corp. (OTCMKTS:MSBHF) shares gapped up before the market opened on Friday . The stock had previously closed at $29.20, but opened at $31.84. Mitsubishi shares last traded at $31.84, with a volume of 28,676 shares changing hands.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Mitsubishi to a “hold” rating in a report on Wednesday, June 3rd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Mitsubishi has an average rating of “Hold”.

Mitsubishi Stock Up 1.9%

The company has a current ratio of 1.41, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $110.31 billion, a P/E ratio of 21.41 and a beta of 0.46. The business has a 50-day moving average price of $32.66 and a 200 day moving average price of $29.77.

Mitsubishi (OTCMKTS:MSBHF) last posted its earnings results on Friday, May 1st. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.09. The firm had revenue of $32.97 billion during the quarter, compared to the consensus estimate of $22.88 billion. Mitsubishi had a return on equity of 8.04% and a net margin of 4.23%. On average, equities analysts expect that Mitsubishi Corp. will post 2.22 EPS for the current fiscal year.

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.