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

Shares of Mitsubishi Corp. (OTCMKTS:MSBHF) gapped down prior to trading on Thursday . The stock had previously closed at $29.80, but opened at $28.60. Mitsubishi shares last traded at $28.60, with a volume of 1,473 shares.

Analyst Ratings Changes

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

Mitsubishi Trading Up 2.4%

The stock has a market capitalization of $109.36 billion, a P/E ratio of 19.16 and a beta of 0.47. The stock’s fifty day moving average price is $29.03 and its 200 day moving average price is $31.48. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.09.

Mitsubishi (OTCMKTS:MSBHF) last posted its earnings results on Monday, August 3rd. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Mitsubishi had a net margin of 4.49% and a return on equity of 8.79%. The business had revenue of $31.86 billion for the quarter, compared to the consensus estimate of $26.46 billion. Research analysts forecast that Mitsubishi Corp. will post 2.22 earnings per share for the current year.

About Mitsubishi

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.