Hitachi (OTCMKTS:HTHIY) Shares Gap Up – Should You Buy?

Hitachi Ltd. (OTCMKTS:HTHIY – Get Free Report) 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 changing hands.

Wall Street Analysts Forecast Growth

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

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Hitachi Price Performance

The business’s 50 day moving average price is $30.89 and its two-hundred day moving average price is $31.73. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.08. The stock has a market cap of $131.26 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 1.23 and a beta of 0.90.

Hitachi (OTCMKTS:HTHIY – Get Free Report) last released its earnings results on Monday, April 27th. The conglomerate reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The company had revenue of $19.38 billion during the quarter, compared to analysts’ expectations 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 earnings per share for the current fiscal year.

Hitachi Company Profile

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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.

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