Mitsubishi Electric Co. (OTCMKTS:MIELY – Get Free Report) shares gapped up prior to trading on Monday. The stock had previously closed at $56.33, but opened at $60.5601. Mitsubishi Electric shares last traded at $62.06, with a volume of 3,399 shares traded.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on MIELY shares. Sanford C. Bernstein assumed coverage on Mitsubishi Electric in a research note on Tuesday, September 15th. They set an “outperform” rating on the stock. Zacks Research lowered Mitsubishi Electric from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 4th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.
View Our Latest Report on MIELY
Mitsubishi Electric Trading Down 4.3%
The stock has a market capitalization of $63.98 billion, a P/E ratio of 33.27 and a beta of 0.90. The stock has a 50 day moving average of $64.23 and a 200-day moving average of $70.48.
Mitsubishi Electric (OTCMKTS:MIELY – Get Free Report) last posted its quarterly earnings data on Friday, October 30th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.16. The business had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $9.97 billion.
About Mitsubishi Electric
Mitsubishi Electric Corporation is a Japanese electronics and electrical equipment manufacturer founded in 1921 and headquartered in Tokyo. It develops products and systems for homes, businesses, factories, transportation networks, and public infrastructure. Its offerings include heating, ventilation and air-conditioning systems; elevators and escalators; factory automation equipment; power and energy systems; and automotive components. The company also makes electronic devices and provides information and communications technologies, including satellite-related systems.
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