Mitsubishi Electric (OTCMKTS:MIELY) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Mitsubishi Electric (OTCMKTS:MIELY) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks reports.

Separately, Sanford C. Bernstein began coverage on shares of Mitsubishi Electric in a research report on Tuesday, September 15th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Mitsubishi Electric Stock Down 1.4%

OTCMKTS:MIELY opened at $66.47 on Tuesday. Mitsubishi Electric has a 12-month low of $49.64 and a 12-month high of $86.00. The stock’s fifty day simple moving average is $69.30 and its 200-day simple moving average is $72.04. The firm has a market capitalization of $70.23 billion, a P/E ratio of 50.74 and a beta of 0.81.

Mitsubishi Electric (OTCMKTS:MIELY) last released its quarterly earnings data on Friday, July 31st. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $9.40 billion during the quarter, compared to the consensus estimate of $8.75 billion.

Mitsubishi Electric Company Profile

Mitsubishi Electric Corporation is a Japan-based manufacturer of electrical and electronic equipment serving industrial, commercial and consumer markets. Its product portfolio includes air-conditioning and refrigeration systems, factory automation equipment, elevators and escalators, power-generation and transmission systems, railway and automotive equipment, and semiconductors and other electronic components.

The company also develops information and communications systems, satellites and space-related equipment, building systems, and other infrastructure technologies.