Mitsubishi Heavy Industries, Ltd. (MHVYF - Free Report) shares rallied 5.4% in the last trading session to close at $27.40. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 14.8% gain over the past four weeks.
The company’s stock price gain can be attributed to the rally in the Japan stock market yesterday. Positive momentum stemmed from the Federal Reserve chairman’s take on controlling inflation in the United States and the short-lived impacts of the new coronavirus variant. A hike in commodity prices too infused strength in the market. Beside the stock market strength, solid fundamentals and growth opportunities of Mitsubishi favor the price momentum.
This company is expected to post quarterly earnings of $0.70 per share in its upcoming report, which represents a year-over-year change of -59.3%. Revenues are expected to be $8.23 billion, down 9.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Mitsubishi Heavy Industries, Ltd., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MHVYF going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Mitsubishi Heavy Industries, Ltd. (MHVYF - Free Report) shares rallied 5.4% in the last trading session to close at $27.40. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 14.8% gain over the past four weeks.
The company’s stock price gain can be attributed to the rally in the Japan stock market yesterday. Positive momentum stemmed from the Federal Reserve chairman’s take on controlling inflation in the United States and the short-lived impacts of the new coronavirus variant. A hike in commodity prices too infused strength in the market. Beside the stock market strength, solid fundamentals and growth opportunities of Mitsubishi favor the price momentum.
This company is expected to post quarterly earnings of $0.70 per share in its upcoming report, which represents a year-over-year change of -59.3%. Revenues are expected to be $8.23 billion, down 9.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Mitsubishi Heavy Industries, Ltd., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MHVYF going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on MHVYF - FREE