Sumitomo Corp. (OTCMKTS:SSUMY – Get Free Report) was the target of a large drop in short interest in June. As of June 15th, there was short interest totaling 28,477 shares, a drop of 83.2% from the May 31st total of 169,434 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 168,570 shares, the days-to-cover ratio is presently 0.2 days.
Sumitomo Stock Up 2.9%
Shares of Sumitomo stock opened at $38.78 on Friday. The company has a 50-day simple moving average of $41.81 and a two-hundred day simple moving average of $39.31. The stock has a market capitalization of $46.35 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.46 and a beta of 0.55. Sumitomo has a 52-week low of $24.01 and a 52-week high of $48.85. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.38.
Sumitomo (OTCMKTS:SSUMY – Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The conglomerate reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.12. The firm had revenue of $12.48 billion for the quarter, compared to analysts’ expectations of $14.01 billion. Sumitomo had a net margin of 8.19% and a return on equity of 12.21%. On average, analysts anticipate that Sumitomo will post 3.47 EPS for the current fiscal year.
Sumitomo Company Profile
Sumitomo Corporation (OTCMKTS: SSUMY) is a global integrated trading and investment company headquartered in Japan. As one of the country’s major sogo shosha (general trading firms), Sumitomo operates a diversified business portfolio that spans trading, project development, equity investments and provision of services to industrial and consumer markets. The company acts as a commercial intermediary and strategic investor, linking producers, manufacturers and end users across international supply chains.
Sumitomo’s business activities cover a wide range of sectors, including metal products and mining, transportation and construction systems, infrastructure and real estate, energy and chemical products, electronics and digital solutions, and consumer goods and food.
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