Zacks Research downgraded shares of Mitsubishi Electric (OTCMKTS:MIELY – Free Report) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning,Zacks reports.
Separately, Sanford C. Bernstein began coverage on shares of Mitsubishi Electric in a research note on Tuesday, September 15th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.
View Our Latest Research Report on MIELY
Mitsubishi Electric Stock Performance
Shares of OTCMKTS:MIELY traded up $1.61 during mid-day trading on Wednesday, hitting $57.94. 1,097,133 shares of the company traded hands, compared to its average volume of 121,940. The firm has a market cap of $61.22 billion, a P/E ratio of 44.23 and a beta of 0.90. Mitsubishi Electric has a 52-week low of $50.20 and a 52-week high of $86.00. The firm’s 50 day simple moving average is $64.54 and its 200 day simple moving average is $70.49.
Mitsubishi Electric (OTCMKTS:MIELY – Get Free Report) last released its quarterly earnings results on Friday, October 30th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.16. The company had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $9.97 billion.
About Mitsubishi Electric
Mitsubishi Electric Corporation is a Japanese electronics and electrical equipment manufacturer founded in 1921 and headquartered in Tokyo. It develops products and systems for homes, businesses, factories, transportation networks, and public infrastructure.
Its offerings include heating, ventilation and air-conditioning systems; elevators and escalators; factory automation equipment; power and energy systems; and automotive components. The company also makes electronic devices and provides information and communications technologies, including satellite-related systems.
Mitsubishi Electric serves customers in Japan and international markets through operations and business activities around the world.
Further Reading
- Five stocks we like better than Mitsubishi Electric
- Astera Labs Just Crushed Earnings—So Why Are Analysts Cutting Price Targets?
- Sandisk Shares Are Oversold: Bargain or Value Trap?
- IonQ’s Record Revenue Includes a Big SkyWater Boost: Does That Change the Story?
- Airbnb Defied a Brutal Tech Sell-Off, But Can Its Post-Earnings Rally Last?
Receive News & Ratings for Mitsubishi Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitsubishi Electric and related companies with MarketBeat.com's FREE daily email newsletter.
