Zacks Investment Research Downgrades Mitsubishi Chemical (OTCMKTS:MTLHY) to Hold
Mitsubishi Chemical (OTCMKTS:MTLHY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday, Zacks.com reports.
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. “
OTCMKTS:MTLHY opened at $28.16 on Friday. Mitsubishi Chemical has a 1 year low of $26.27 and a 1 year high of $41.25. The firm has a 50 day moving average of $29.88 and a 200-day moving average of $29.19. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $8.48 billion, a P/E ratio of 25.36 and a beta of 0.70.
Mitsubishi Chemical (OTCMKTS:MTLHY) last posted its earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter. The firm had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.85 billion. As a group, analysts forecast that Mitsubishi Chemical will post 0.98 EPS for the current fiscal year.
Mitsubishi Chemical Company Profile
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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