Mitsubishi Chemical (OTCMKTS:MTLHY) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Mitsubishi Chemical (OTCMKTS:MTLHY) from a hold rating to a buy rating in a research note published on Wednesday, Zacks.com reports. The firm currently has $33.00 price target on the stock.
According to Zacks, “Mitsubishi Chemical Holdings Corporation engages in the production and sale of various chemical, healthcare, and performance products primarily in Japan. The company’s Electronics Applications segment offers optical recording media, display materials, and polyester films. Its Designed Materials segment engages in the business related to aluminum composite materials, sales of construction and industrial materials, plastic shrinkable labels for PET bottles and heat shrinkable tubes. The company’s Health Care segment is involved in businesses related to chemicals and related products, manufacture and sale of pharmaceuticals, clinical testing and diagnostics. Its Chemicals segment engages in the businesses of industrial and specialty chemicals, nonionic surfactants, glycol ethers, and fine chemicals. The company’s Polymers segment’s businesses comprise activities in the areas of PET, polyethylene, and nylon resins for automotive industry. Mitsubishi Chemical Holdings Corporation is headquartered in Tokyo, Japan. “
Shares of Mitsubishi Chemical stock opened at $28.16 on Wednesday. The company has a market cap of $8.48 billion, a P/E ratio of 25.36 and a beta of 0.70. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.72 and a current ratio of 1.09. Mitsubishi Chemical has a one year low of $26.27 and a one year high of $41.25. The firm has a fifty day moving average of $29.88 and a two-hundred day moving average of $29.19.
Mitsubishi Chemical (OTCMKTS:MTLHY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 EPS for the quarter. The firm had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.85 billion. As a group, equities analysts predict that Mitsubishi Chemical will post 0.98 earnings per share for the current year.
About Mitsubishi Chemical
Mitsubishi Chemical Holdings Corporation provides performance products, chemicals, industrial gases, and health care products in Japan and internationally. The company’s performance products include specialty chemicals, functional food materials, inorganic materials, electronic and electrical components and products, molding and processed products, film and sheet products, synthetic paper, carbon fiber, synthetic fiber, equipment, instruments and systems, materials and products for industrial use, construction materials, civil engineering materials, aqua-related materials and products, leisure, sports, and daily goods.
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