Mitsubishi (OTCMKTS:MSBHF) Shares Gap Up After Better-Than-Expected Earnings

Mitsubishi Corp. (OTCMKTS:MSBHF)’s stock price gapped up before the market opened on Friday following a stronger than expected earnings report. 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 analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $27.57 billion.

Wall Street Analysts Forecast Growth

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

Mitsubishi Stock Performance

The company has a current ratio of 1.44, a quick ratio of 1.13 and a debt-to-equity ratio of 0.38. The company has a market cap of $124.46 billion, a P/E ratio of 24.65 and a beta of 0.64. The company has a 50 day moving average price of $24.74 and a 200-day moving average price of $23.58.

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.