Mitsubishi Electric (OTCMKTS:MIELY) Upgraded at Zacks Research

by · The Markets Daily

Zacks Research upgraded shares of Mitsubishi Electric (OTCMKTS:MIELY – Free Report) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks reports.

Separately, Sanford C. Bernstein started coverage on shares of Mitsubishi Electric in a research report on Tuesday, September 15th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Mitsubishi Electric currently has a consensus rating of “Buy”.

View Our Latest Stock Report on Mitsubishi Electric

Mitsubishi Electric Stock Down 4.9%

MIELY opened at $63.20 on Tuesday. Mitsubishi Electric has a 12-month low of $49.64 and a 12-month high of $86.00. The firm has a market capitalization of $66.78 billion, a P/E ratio of 48.24 and a beta of 0.81. The stock’s 50 day moving average price is $69.21 and its two-hundred day moving average price is $72.02.

Mitsubishi Electric (OTCMKTS:MIELY – Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $9.40 billion for the quarter, compared to the consensus estimate of $8.75 billion.

About Mitsubishi Electric

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Mitsubishi Electric Corporation is a Japan-based manufacturer of electrical and electronic equipment serving industrial, commercial and consumer markets. Its product portfolio includes air-conditioning and refrigeration systems, factory automation equipment, elevators and escalators, power-generation and transmission systems, railway and automotive equipment, and semiconductors and other electronic components.

The company also develops information and communications systems, satellites and space-related equipment, building systems, and other infrastructure technologies.

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