Hitachi (OTCMKTS:HTHIY) Stock Price Down 5.9% – Here’s Why

Shares of Hitachi Ltd. (OTCMKTS:HTHIY) dropped 5.9% during mid-day trading on Tuesday . The stock traded as low as $30.70 and last traded at $30.77. Approximately 14,308 shares changed hands during trading, a decline of 96% from the average daily volume of 327,445 shares. The stock had previously closed at $32.70.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HTHIY shares. Erste Group Bank upgraded Hitachi to a “hold” rating in a research note on Friday, October 3rd. Zacks Research raised Hitachi from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 21st. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Hitachi currently has an average rating of “Hold”.

Hitachi Price Performance

The firm has a market capitalization of $140.20 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.51 and a beta of 0.85. The company has a quick ratio of 0.85, a current ratio of 1.12 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average price is $29.80 and its 200 day moving average price is $28.64.

Hitachi (OTCMKTS:HTHIY) last released its earnings results on Thursday, October 30th. The conglomerate reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.21. Hitachi had a net margin of 6.45% and a return on equity of 10.83%. The business had revenue of $16.65 billion for the quarter, compared to analyst estimates of $2,463.27 billion. Equities research analysts expect that Hitachi Ltd. will post 0.47 earnings per share for the current fiscal year.

Hitachi Company Profile

Hitachi, Ltd. provides digital system and services, green energy and mobility, and connective industry solutions in Japan and internationally. It operates through seven segments: Digital Systems & Services, Green Energy & Mobility, Connective Industries, Automotive System, Hitachi Construction Machinery, Hitachi Metals, and Others.