Hitachi Ltd. (OTCMKTS:HTHIY – Get Free Report) shares gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $36.55, but opened at $32.46. Hitachi shares last traded at $32.3175, with a volume of 388,488 shares traded.
The conglomerate reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The company had revenue of $18.40 billion during the quarter, compared to analysts’ expectations of $18.51 billion. Hitachi had a return on equity of 12.07% and a net margin of 7.30%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on HTHIY shares. Sanford C. Bernstein initiated coverage on shares of Hitachi in a report on Tuesday, September 15th. They set an “outperform” rating for the company. Zacks Research upgraded Hitachi from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to MarketBeat.com, Hitachi currently has an average rating of “Strong Buy”.
Get Our Latest Analysis on Hitachi
Hitachi Trading Down 11.7%
The stock has a market cap of $146.43 billion, a PE ratio of 27.83, a PEG ratio of 1.25 and a beta of 0.97. The stock’s fifty day moving average price is $35.03 and its 200 day moving average price is $32.55. The company has a quick ratio of 0.83, a current ratio of 1.09 and a debt-to-equity ratio of 0.08.
About Hitachi
Hitachi, Ltd. is a Japanese technology and engineering company that develops digital, infrastructure and industrial solutions for customers worldwide. Founded in 1910 and headquartered in Tokyo, the company has evolved from an electrical equipment manufacturer into a diversified provider of systems and services supporting social infrastructure and business operations.
Hitachi’s principal activities include digital systems and services, energy systems, railway systems, industrial equipment and healthcare technology.
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