Mitsubishi Estate (OTCMKTS:MITEY) Stock Price Passes Above 50-Day Moving Average – What’s Next?

Mitsubishi Estate Co., Ltd. (OTCMKTS:MITEY)’s stock price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $17.67 and traded as high as $19.25. Mitsubishi Estate shares last traded at $18.61, with a volume of 46,450 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, CLSA raised Mitsubishi Estate to a “strong-buy” rating in a research report on Tuesday, May 27th.

Mitsubishi Estate Price Performance

The company has a market capitalization of $23.28 billion, a PE ratio of 18.07 and a beta of 0.21. The firm has a 50-day moving average of $17.67 and a 200 day moving average of $15.63.

Mitsubishi Estate (OTCMKTS:MITEY) last announced its earnings results on Monday, May 12th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.10). The firm had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Mitsubishi Estate had a return on equity of 5.27% and a net margin of 12.13%.

About Mitsubishi Estate

Mitsubishi Estate Co, Ltd. engages in the real estate activities in Japan and internationally. The company develops, leases, manages, and sells office buildings and commercial facilities; operates rental offices, coworking space, virtual offices, hourly meeting rooms, home delivery storage service, commercial nursing homes, and building garages; offers real estate management, as well as building management services, such as security, facility management, cleaning, and planting services; and operates hotels and airports.