Mitsubishi Estate (OTCMKTS:MITEY) Shares Gap Down After Earnings Miss

by · The Markets Daily

Mitsubishi Estate Co. (OTCMKTS:MITEY – Get Free Report) shares gapped down prior to trading on Monday following a weaker than expected earnings announcement. The stock had previously closed at $26.36, but opened at $24.42. Mitsubishi Estate shares last traded at $25.7350, with a volume of 17,262 shares.

The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). Mitsubishi Estate had a return on equity of 6.15% and a net margin of 15.06%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group downgraded shares of Mitsubishi Estate from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

View Our Latest Stock Report on Mitsubishi Estate

Mitsubishi Estate Price Performance

The stock has a 50-day simple moving average of $23.37 and a 200 day simple moving average of $26.12. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.35 and a current ratio of 1.89. The company has a market cap of $31.08 billion, a P/E ratio of 16.99 and a beta of 0.16.

Mitsubishi Estate Company Profile

(Get Free Report)

Mitsubishi Estate Co, Ltd. is a Japanese real estate company founded in 1937 and headquartered in Tokyo. It develops, owns, leases and manages a range of properties, including office buildings, residential properties, retail facilities, hotels and logistics facilities.

The company is closely associated with the development and management of Tokyo’s Marunouchi district, near Tokyo Station. Its business also includes real estate services and asset management, serving corporate and individual customers.

In addition to its extensive operations in Japan, Mitsubishi Estate has real estate businesses in overseas markets, including the United States, the United Kingdom and parts of Asia.

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