Mitsubishi Electric (OTCMKTS:MIELY) Stock Rating Lowered by Zacks Research

Mitsubishi Electric (OTCMKTS:MIELY – Get Free Report) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks reports.

Separately, Sanford C. Bernstein started coverage on shares of Mitsubishi Electric in a report on Tuesday, September 15th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold”.

View Our Latest Report on Mitsubishi Electric

Mitsubishi Electric Price Performance

MIELY opened at $55.95 on Wednesday. The stock’s 50 day simple moving average is $64.78 and its 200 day simple moving average is $70.51. The firm has a market cap of $59.12 billion, a price-to-earnings ratio of 42.71 and a beta of 0.90. Mitsubishi Electric has a 1 year low of $50.20 and a 1 year high of $86.00.

Mitsubishi Electric (OTCMKTS:MIELY – Get Free Report) last issued its earnings results on Friday, October 30th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.16. The firm had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $9.97 billion.

Mitsubishi Electric Company Profile

(Get Free Report)

Mitsubishi Electric Corporation is a Japan-based global manufacturer of electrical and electronic equipment. Founded in 1921 and headquartered in Tokyo, the company develops products and systems for infrastructure, industry, mobility, buildings, homes and information technology.

Its offerings include factory automation equipment, industrial robots, power generation and transmission systems, railway and transportation equipment, elevators and escalators, heating and cooling systems, air conditioners, home appliances, automotive components, semiconductors and other electronic devices.

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