Mitsubishi Electric (OTCMKTS:MIELY) Issues Earnings Results

Mitsubishi Electric (OTCMKTS:MIELY) announced its quarterly earnings data on Friday. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04, Zacks reports. The firm had revenue of $9.40 billion during the quarter, compared to the consensus estimate of $8.57 billion.

Mitsubishi Electric Price Performance

MIELY stock opened at $72.66 on Friday. The company has a fifty day moving average price of $72.70 and a two-hundred day moving average price of $72.02. Mitsubishi Electric has a one year low of $45.49 and a one year high of $86.00. The stock has a market cap of $76.77 billion, a price-to-earnings ratio of 68.55 and a beta of 0.75.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Mitsubishi Electric from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Mitsubishi Electric currently has a consensus 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.