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

Mitsubishi Electric (OTCMKTS:MIELY) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Separately, Sanford C. Bernstein assumed coverage on shares of Mitsubishi Electric in a research report on Tuesday, September 15th. They set 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Mitsubishi Electric Stock Performance

Shares of MIELY opened at $66.47 on Tuesday. The stock has a fifty day moving average price of $69.30 and a two-hundred day moving average price of $72.04. Mitsubishi Electric has a 52-week low of $49.64 and a 52-week high of $86.00. The company has a market cap of $70.23 billion, a price-to-earnings ratio of 50.74 and a beta of 0.81.

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