Hitachi (OTCMKTS:HTHIY) Posts Earnings Results, Beats Estimates By $0.01 EPS

Hitachi (OTCMKTS:HTHIY) released its quarterly earnings results on Thursday. The conglomerate reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01, Zacks reports. The business had revenue of $17.68 billion during the quarter, compared to analysts’ expectations of $16.85 billion. Hitachi had a return on equity of 13.10% and a net margin of 7.98%.

Hitachi Price Performance

Shares of HTHIY stock traded up $0.52 during trading hours on Thursday, reaching $34.02. The company’s stock had a trading volume of 467,744 shares, compared to its average volume of 591,713. Hitachi has a fifty-two week low of $18.30 and a fifty-two week high of $35.62. The firm’s 50 day simple moving average is $32.19 and its 200-day simple moving average is $30.30. The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $155.81 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.34 and a beta of 0.86.

Wall Street Analysts Forecast Growth

HTHIY has been the subject of a number of research reports. Erste Group Bank raised Hitachi to a “hold” rating in a report on Friday, October 3rd. Zacks Research upgraded shares of Hitachi from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Hitachi has an average rating of “Hold”.

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.