Mitsubishi Electric Co. (OTCMKTS:MIELY – Get Free Report)’s stock price gapped up prior to trading on Monday. The stock had previously closed at $56.33, but opened at $60.5601. Mitsubishi Electric shares last traded at $62.06, with a volume of 3,399 shares changing hands.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on MIELY. Zacks Research downgraded shares of Mitsubishi Electric from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 4th. Sanford C. Bernstein assumed coverage on shares of Mitsubishi Electric in a research report on Tuesday, September 15th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Mitsubishi Electric currently has a consensus rating of “Hold”.
Check Out Our Latest Research Report on Mitsubishi Electric
Mitsubishi Electric Stock Performance
The company has a market cap of $66.06 billion, a PE ratio of 47.73 and a beta of 0.90. The stock has a 50 day moving average of $64.54 and a 200-day moving average of $70.49.
Mitsubishi Electric (OTCMKTS:MIELY – Get Free Report) last posted its quarterly earnings results on Friday, October 30th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.16. The firm had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $9.97 billion.
Mitsubishi Electric Company Profile
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.
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