Shares of Mitsubishi Electric Co. (OTCMKTS:MIELY – Get Free Report) saw strong trading volume on Tuesday . 317,907 shares changed hands during trading, an increase of 184% from the previous session’s volume of 112,091 shares.The stock last traded at $65.80 and had previously closed at $66.10.
Analyst Upgrades and Downgrades
Several analysts have recently commented on MIELY shares. Sanford C. Bernstein began coverage on shares of Mitsubishi Electric in a report on Tuesday. They issued an “outperform” rating for the company. Zacks Research downgraded shares of Mitsubishi Electric from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 28th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold”.
Check Out Our Latest Research Report on MIELY
Mitsubishi Electric Trading Down 0.5%
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, topping analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $9.40 billion for the quarter, compared to analysts’ expectations of $8.75 billion.
About Mitsubishi Electric
Mitsubishi Electric Corporation is a Japan-based global manufacturer of electrical and electronic equipment. Founded in 1921, the company develops technologies and systems for homes, businesses, factories, transportation networks and public infrastructure.
Its principal businesses include energy and electric systems, industrial automation, information and communications systems, electronic devices and home appliances. Products and solutions include factory automation equipment, power-generation and transmission systems, elevators and escalators, air-conditioning systems, televisions and other consumer electronics, semiconductors, satellites and related space technologies.
Mitsubishi Electric serves customers in Japan and international markets across the Americas, Europe, Asia and other regions.
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