Mitsubishi (OTCMKTS:MSBHF) Shares Gap Down – Here’s Why

Mitsubishi Corp. (OTCMKTS:MSBHF) shares gapped down before the market opened on Tuesday . The stock had previously closed at $24.10, but opened at $22.00. Mitsubishi shares last traded at $23.50, with a volume of 8,855 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research lowered shares of Mitsubishi from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Mitsubishi Stock Performance

The company has a current ratio of 1.46, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $93.88 billion, a price-to-earnings ratio of 17.36 and a beta of 0.62. The stock’s fifty day simple moving average is $22.27 and its 200-day simple moving average is $20.22.

Mitsubishi (OTCMKTS:MSBHF) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. Mitsubishi had a return on equity of 8.03% and a net margin of 4.42%.The business had revenue of $29.27 billion for the quarter, compared to analysts’ expectations of $30.24 billion. Analysts predict that Mitsubishi Corp. will post 1.6 EPS for the current year.

About Mitsubishi

Mitsubishi Corporation engages in the natural gas, industrial materials and infrastructure, petroleum and chemicals, mineral resources, automotive and mobility, food and consumer industry, power solution, and urban development businesses worldwide. The Natural Gas segment engages in the development and production of natural gas/oil; and liquified natural gas business.