Shares of Mitsubishi Corp. (OTCMKTS:MSBHF – Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $29.80, but opened at $28.60. Mitsubishi shares last traded at $28.60, with a volume of 1,473 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, Zacks Research raised shares of Mitsubishi to a “hold” rating in a research report on Wednesday, June 3rd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.
Get Our Latest Report on Mitsubishi
Mitsubishi Trading Down 0.2%
Mitsubishi (OTCMKTS:MSBHF – Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $31.86 billion during the quarter, compared to analysts’ expectations of $26.46 billion. Mitsubishi had a return on equity of 8.79% and a net margin of 4.49%. Sell-side analysts predict that Mitsubishi Corp. will post 2.22 EPS for the current year.
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.
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