Mitsubishi Electric (OTCMKTS:MIELY) Stock Dropped to “Hold” by Zacks Research

by · The Markets Daily

Mitsubishi Electric (OTCMKTS:MIELY – Get Free Report) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks reports.

Separately, Sanford C. Bernstein started coverage on Mitsubishi Electric in a research note on Tuesday, September 15th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Get Our Latest Analysis on Mitsubishi Electric

Mitsubishi Electric Stock Performance

Mitsubishi Electric stock opened at $55.95 on Wednesday. Mitsubishi Electric has a fifty-two week low of $50.20 and a fifty-two week high of $86.00. The stock’s 50 day simple moving average is $64.78 and its two-hundred day simple moving average is $70.51. The stock has a market cap of $59.12 billion, a price-to-earnings ratio of 42.71 and a beta of 0.90.

Mitsubishi Electric (OTCMKTS:MIELY – Get Free Report) last announced its earnings results on Friday, October 30th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.16. The firm had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $9.97 billion.

Mitsubishi Electric Company Profile

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Mitsubishi Electric Corporation is a Japan-based global manufacturer of electrical and electronic equipment. Founded in 1921 and headquartered in Tokyo, the company develops products and systems for infrastructure, industry, mobility, buildings, homes and information technology.

Its offerings include factory automation equipment, industrial robots, power generation and transmission systems, railway and transportation equipment, elevators and escalators, heating and cooling systems, air conditioners, home appliances, automotive components, semiconductors and other electronic devices.

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