Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Stock Price Up 4.9% – Here’s Why

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) shares were up 4.9% during mid-day trading on Wednesday. The stock traded as high as $25.4550 and last traded at $25.4550. Approximately 34,019 shares changed hands during mid-day trading, an increase of 21% from the average session volume of 28,017 shares. The stock had previously closed at $24.2650.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Mitsubishi Heavy Industries in a research report on Tuesday, September 15th. They set an “outperform” rating for the company. UBS Group upgraded shares of Mitsubishi Heavy Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Mitsubishi Heavy Industries Price Performance

The firm has a market capitalization of $81.90 billion, a P/E ratio of 31.94 and a beta of 0.52. The business has a 50-day moving average of $24.99 and a 200 day moving average of $25.60. The company has a current ratio of 1.26, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.09. Mitsubishi Heavy Industries had a return on equity of 12.97% and a net margin of 7.04%.The business had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.09 billion.

Institutional Trading of Mitsubishi Heavy Industries

A hedge fund recently bought a new stake in Mitsubishi Heavy Industries stock. McMillan Office Inc. purchased a new stake in shares of Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,000 shares of the company’s stock, valued at approximately $28,000.

About Mitsubishi Heavy Industries

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) is a Japan-based industrial company that develops and manufactures large-scale equipment, systems and infrastructure for customers worldwide. Its roots trace to the establishment of the Nagasaki Shipyard in 1884, while the modern company was formed in 1934 through the merger of Mitsubishi Shipbuilding and Mitsubishi Aircraft.

The company’s activities include power-generation equipment and energy systems, including gas turbines, steam turbines, nuclear-power technologies and related services.