Sumitomo (OTCMKTS:SSUMY) Releases Earnings Results, Misses Estimates By $0.13 EPS

Sumitomo (OTCMKTS:SSUMY) announced its earnings results on Friday. The conglomerate reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.13), Zacks reports. Sumitomo had a return on equity of 12.49% and a net margin of 8.31%.The business had revenue of $11.35 billion during the quarter, compared to analysts’ expectations of $11.60 billion.

Sumitomo Price Performance

Sumitomo stock opened at $29.14 on Friday. Sumitomo has a 12 month low of $19.18 and a 12 month high of $31.11. The company has a current ratio of 1.59, a quick ratio of 1.07 and a debt-to-equity ratio of 0.54. The business’s 50 day simple moving average is $29.37 and its 200 day simple moving average is $26.88. The company has a market cap of $35.30 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 1.17 and a beta of 0.56.

Analyst Ratings Changes

Separately, Zacks Research upgraded Sumitomo from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Sumitomo Company Profile

Sumitomo Corporation engages in general trading business worldwide. It operates through six segments: Metal Products; Transportation & Construction Systems; Infrastructure; Media & Digital; Living Related & Real Estate; and Mineral Resources, Energy, Chemical & Electronics. The company provides steel sheets and tubular products; and manufactures, leases, sells, services, and finances ships, aircrafts, motor vehicles, construction equipment, and components and parts.