Shares of Mitsubishi Electric Co. (OTCMKTS:MIELY – Get Free Report) dropped 5.9% during trading on Thursday . The stock traded as low as $70.00 and last traded at $70.00. Approximately 802 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 116,199 shares. The stock had previously closed at $74.42.
Analysts Set New Price Targets
Separately, Zacks Research upgraded Mitsubishi Electric from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.
View Our Latest Analysis on Mitsubishi Electric
Mitsubishi Electric Stock Down 1.9%
Mitsubishi Electric (OTCMKTS:MIELY – Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. The company had revenue of $9.40 billion during the quarter, compared to the consensus estimate 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.
Featured Stories
- Five stocks we like better than Mitsubishi Electric
- AIxCrypto Dumps Its Crypto and Goes All In on Robotics
- AST SpaceMobile’s FCC Test Arrives as Investors Weigh a Costly Q2 Miss
- Viking Stock Fell After Earnings, But the Numbers Tell a Different Story
- 3 Ways to Invest in Cybersecurity Through ETFs
Receive News & Ratings for Mitsubishi Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitsubishi Electric and related companies with MarketBeat.com's FREE daily email newsletter.
