Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Shares Gap Up on Strong Earnings

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) shares gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $23.20, but opened at $27.85. Mitsubishi Heavy Industries shares last traded at $25.00, with a volume of 2,402 shares trading hands.

The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.09. The firm had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.09 billion. Mitsubishi Heavy Industries had a net margin of 5.89% and a return on equity of 11.74%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mitsubishi Heavy Industries stock. McMillan Office Inc. bought a new stake in Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,000 shares of the company’s stock, valued at approximately $28,000.

Mitsubishi Heavy Industries Price Performance

The company has a market cap of $82.19 billion, a price-to-earnings ratio of 37.48 and a beta of 0.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.28. The company’s 50 day moving average price is $23.50 and its 200 day moving average price is $27.52.

About Mitsubishi Heavy Industries

Mitsubishi Heavy Industries is a diversified Japanese industrial conglomerate engaged in the design, manufacture and servicing of large-scale capital equipment and systems. The company’s activities span shipbuilding and marine propulsion; power and energy systems including gas turbines, boilers and related power-plant equipment; and industrial machinery for sectors ranging from chemicals and manufacturing to environmental control. MHI also supplies heating, ventilation and air-conditioning systems and other building-related equipment for commercial and industrial customers.

In addition to its heavy engineering businesses, Mitsubishi Heavy Industries is a major participant in aerospace, space and defense markets.