Mitsubishi Electric Co. (OTCMKTS:MIELY – Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $72.66, but opened at $69.30. Mitsubishi Electric shares last traded at $69.30, with a volume of 7,114 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, Zacks Research raised Mitsubishi Electric from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.
View Our Latest Stock Analysis on MIELY
Mitsubishi Electric Price Performance
Mitsubishi Electric (OTCMKTS:MIELY – Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $9.40 billion for the quarter, compared to analysts’ expectations of $8.75 billion.
Mitsubishi Electric Company Profile
Mitsubishi Electric Corporation (OTCMKTS: MIELY) is a Tokyo-based multinational manufacturer of electrical and electronic equipment. Founded in 1921, the company is part of the broader Mitsubishi Group and has grown into a diversified industrial enterprise serving commercial, industrial and consumer markets. Mitsubishi Electric develops, manufactures and sells a wide range of products and systems used in building systems, factory automation, power generation and distribution, transportation, and information and communication infrastructure.
The company’s product and service portfolio includes air-conditioning and heating systems, elevators and escalators, factory automation and control equipment, power and electric systems, transportation systems and signaling for railways, and semiconductors and electronic devices.
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