Mitsubishi Electric (MIELY) Expected to Release Earnings on Friday

Mitsubishi Electric (OTCMKTS:MIELY) is anticipated to release its resultson Friday, July 31st. Analysts expect the company to post earnings of $0.6310 per share and revenue of $8.6715 billion for the quarter.

Mitsubishi Electric Stock Performance

Shares of Mitsubishi Electric stock opened at $65.22 on Wednesday. Mitsubishi Electric has a 52-week low of $43.54 and a 52-week high of $86.00. The stock has a market capitalization of $68.91 billion, a price-to-earnings ratio of 61.53 and a beta of 0.75. The company has a fifty day moving average of $73.26 and a 200-day moving average of $71.97.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Mitsubishi Electric from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Mitsubishi Electric Company Profile

Mitsubishi Electric Corporation (OTCMKTS: MIELY) is a Tokyo-based multinational manufacturer of electrical and electronic equipment. Founded in 1921, the company is part of the broader Mitsubishi Group and has grown into a diversified industrial enterprise serving commercial, industrial and consumer markets. Mitsubishi Electric develops, manufactures and sells a wide range of products and systems used in building systems, factory automation, power generation and distribution, transportation, and information and communication infrastructure.

The company’s product and service portfolio includes air-conditioning and heating systems, elevators and escalators, factory automation and control equipment, power and electric systems, transportation systems and signaling for railways, and semiconductors and electronic devices.