Jefferies Financial Group Analysts Reduce Earnings Estimates for MITSUBISHI CORP/S (OTCMKTS:MSBHY)

MITSUBISHI CORP/S (OTCMKTS:MSBHY) – Research analysts at Jefferies Financial Group cut their FY2023 EPS estimates for shares of MITSUBISHI CORP/S in a note issued to investors on Thursday, June 25th. Jefferies Financial Group analyst T. Pham now forecasts that the conglomerate will post earnings of $6.03 per share for the year, down from their previous forecast of $6.39.

MITSUBISHI CORP/S (OTCMKTS:MSBHY) last released its quarterly earnings results on Friday, May 8th. The conglomerate reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $1.47. The business had revenue of $30.76 billion during the quarter, compared to analysts’ expectations of $35.94 billion. MITSUBISHI CORP/S had a return on equity of 8.39% and a net margin of 3.62%.

A number of other equities research analysts also recently issued reports on MSBHY. JPMorgan Chase & Co. downgraded shares of MITSUBISHI CORP/S from a “neutral” rating to an “underweight” rating in a research note on Monday, June 22nd. ValuEngine lowered MITSUBISHI CORP/S from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Zacks Investment Research lowered MITSUBISHI CORP/S from a “buy” rating to a “hold” rating in a research report on Thursday, June 25th. Finally, Goldman Sachs Group upgraded MITSUBISHI CORP/S from a “neutral” rating to a “buy” rating in a report on Wednesday, June 17th.

OTCMKTS MSBHY opened at $41.95 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.30 and a quick ratio of 1.04. The stock has a market capitalization of $31.23 billion, a P/E ratio of 6.56 and a beta of 0.73. The firm’s 50-day moving average is $44.69 and its two-hundred day moving average is $47.27. MITSUBISHI CORP/S has a 12 month low of $38.64 and a 12 month high of $54.82.

A hedge fund recently raised its stake in MITSUBISHI CORP/S stock. Lenox Wealth Management Inc. boosted its position in MITSUBISHI CORP/S (OTCMKTS:MSBHY) by 11.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,939 shares of the conglomerate’s stock after acquiring an additional 720 shares during the quarter. Lenox Wealth Management Inc.’s holdings in MITSUBISHI CORP/S were worth $290,000 at the end of the most recent quarter. 0.11% of the stock is currently owned by institutional investors.

About MITSUBISHI CORP/S

Mitsubishi Corporation operates in industrial finance, energy, metals, machinery, chemicals, and daily living essentials worldwide. The company's Global Environmental & Infrastructure Business segment conducts environmental and infrastructure projects, related trading operations, and other activities in power generation, water, transportation, and other infrastructure fields.

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