Hitachi (OTCMKTS:HTHIY) Shares Gap Up – Still a Buy?

Hitachi Ltd. (OTCMKTS:HTHIY)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $27.35, but opened at $28.86. Hitachi shares last traded at $29.29, with a volume of 56,577 shares trading hands.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded shares of Hitachi from a “hold” rating to a “strong sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Hitachi Stock Performance

The company’s 50-day simple moving average is $30.76 and its 200 day simple moving average is $31.69. The stock has a market cap of $130.69 billion, a P/E ratio of 24.42, a PEG ratio of 1.28 and a beta of 0.92. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.08.

Hitachi (OTCMKTS:HTHIY) last released its earnings results on Monday, April 27th. The conglomerate reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. The company had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.44 billion. Hitachi had a return on equity of 12.68% and a net margin of 7.64%. As a group, sell-side analysts expect that Hitachi Ltd. will post 1.28 EPS for the current fiscal year.

About Hitachi

Hitachi, Ltd. (OTCMKTS:HTHIY) is a Tokyo-headquartered multinational conglomerate that operates a diversified portfolio of businesses spanning information technology, energy and power systems, industrial machinery, transportation systems, and digital solutions. Founded in 1910 by engineer Namihei Odaira in the city of Hitachi, Ibaraki Prefecture, the company grew from an electrical repair shop and early induction motor manufacturing into a global engineering and technology group. Hitachi positions itself as a “social innovation” company, combining operational technology, information technology and domain knowledge to address infrastructure and industry challenges.

The company’s activities include design and manufacture of heavy industrial equipment and construction machinery, delivery of rail and urban transportation systems, development and provision of power generation and grid equipment, and enterprise IT services including systems integration and cloud solutions.