Hitachi (OTCMKTS:HTHIY) Shares Gap Up – Time to Buy?

Shares of Hitachi Ltd. (OTCMKTS:HTHIY) gapped up before the market opened on Thursday . The stock had previously closed at $27.35, but opened at $28.86. Hitachi shares last traded at $29.29, with a volume of 56,577 shares trading hands.

Analyst Ratings Changes

Separately, Zacks Research lowered shares of Hitachi from a “hold” rating to a “strong sell” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Hitachi Trading Up 5.8%

The firm has a market capitalization of $131.26 billion, a PE ratio of 24.53, a P/E/G ratio of 1.23 and a beta of 0.90. The firm has a 50 day simple moving average of $30.89 and a 200 day simple moving average of $31.73. The company has a current ratio of 1.08, a quick ratio of 0.81 and a debt-to-equity ratio of 0.08.

Hitachi (OTCMKTS:HTHIY) last posted its quarterly earnings results on Monday, April 27th. The conglomerate reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.02. The firm had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.44 billion. Hitachi had a return on equity of 12.68% and a net margin of 7.64%. Equities analysts expect that Hitachi Ltd. will post 1.28 earnings per share for the current fiscal year.

About Hitachi

Hitachi, Ltd. (OTCMKTS:HTHIY) is a Tokyo-headquartered multinational conglomerate that operates a diversified portfolio of businesses spanning information technology, energy and power systems, industrial machinery, transportation systems, and digital solutions. Founded in 1910 by engineer Namihei Odaira in the city of Hitachi, Ibaraki Prefecture, the company grew from an electrical repair shop and early induction motor manufacturing into a global engineering and technology group. Hitachi positions itself as a “social innovation” company, combining operational technology, information technology and domain knowledge to address infrastructure and industry challenges.

The company’s activities include design and manufacture of heavy industrial equipment and construction machinery, delivery of rail and urban transportation systems, development and provision of power generation and grid equipment, and enterprise IT services including systems integration and cloud solutions.