Sumitomo (OTCMKTS:SSUMY) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Sumitomo (OTCMKTS:SSUMY) from a buy rating to a hold rating in a report released on Thursday morning, Zacks.com reports.

According to Zacks, “Sumitomo Corporation is engaged in multifaceted business activities. It operates as an integrated trading company worldwide. The Company sells a variety of domestic products and services, conducts import, export and trilateral business transactions. The Company also provides domestic and international business investment, and participates in numerous other activities in various industrial sectors around the world. Its business includes metal products, transportation & construction systems, infrastructure, media, network & lifestyle retail, mineral resources, energy, chemical & electronics, general products & real estate, new industry development & cross-function and corporate group. Sumitomo Corporation is headquartered in Tokyo, Japan. “

Shares of SSUMY opened at $13.72 on Thursday. Sumitomo has a 52-week low of $10.92 and a 52-week high of $15.41. The firm has a fifty day simple moving average of $13.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.19 and a current ratio of 1.62. The company has a market cap of $17.13 billion, a price-to-earnings ratio of -44.24 and a beta of 0.80.

Sumitomo Company Profile

Sumitomo Corporation imports, exports, and sells various goods and commodities worldwide. The company's Metal Products segment offers steel sheets and tubular products; and non-ferrous metals, such as aluminum and titanium. Its Transportation & Construction Systems segment manufactures, sells, services, leases, and finances ships, aircraft, aerospace equipment, and automotive and related products; and deals in, rents, and trades in construction, mining and agricultural machinery, and industrial vehicles.

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