Mitsubishi (OTCMKTS:MSBHF) Shares Gap Up – Here’s Why

Mitsubishi Corp. (OTCMKTS:MSBHF) gapped up before the market opened on Wednesday . The stock had previously closed at $31.85, but opened at $33.95. Mitsubishi shares last traded at $33.95, with a volume of 276 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Mitsubishi to a “hold” rating in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Mitsubishi Stock Up 6.6%

The company has a fifty day simple moving average of $30.02 and a 200-day simple moving average of $31.38. The company has a quick ratio of 1.09, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. The firm has a market cap of $125.82 billion, a P/E ratio of 22.05 and a beta of 0.46.

Mitsubishi (OTCMKTS:MSBHF) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Mitsubishi had a return on equity of 8.79% and a net margin of 4.49%.The firm had revenue of $31.86 billion for the quarter, compared to the consensus estimate of $26.46 billion. On average, equities analysts anticipate that Mitsubishi Corp. will post 2.37 earnings per share for the current year.

About Mitsubishi

Mitsubishi Corporation is a Japan-based global trading and business investment company whose shares trade over the counter in the United States under the symbol MSBHF. The company develops and manages businesses across a broad range of industries, combining international trading, project development, supply-chain management and strategic investment.

Its activities include energy and power solutions, natural resources, chemicals, industrial materials, food and consumer products, mobility, infrastructure, and urban and digital business development.