Sumitomo (OTCMKTS:SSUMY – Get Free Report) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.
Sumitomo Trading Up 2.4%
Shares of Sumitomo stock opened at $11.99 on Monday. The stock has a fifty day simple moving average of $14.63 and a 200 day simple moving average of $31.16. Sumitomo has a 12-month low of $7.12 and a 12-month high of $12.42. The company has a market capitalization of $57.34 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 0.73 and a beta of 0.58. The company has a current ratio of 1.34, a quick ratio of 0.94 and a debt-to-equity ratio of 0.69.
Sumitomo (OTCMKTS:SSUMY – Get Free Report) last released its quarterly earnings results on Friday, July 31st. The conglomerate reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.58). Sumitomo had a net margin of 8.23% and a return on equity of 12.71%. The company had revenue of $12.24 billion during the quarter, compared to analysts’ expectations of $11.50 billion. On average, sell-side analysts anticipate that Sumitomo will post 2.1 earnings per share for the current fiscal year.
About Sumitomo
Sumitomo Corporation is a diversified Japanese trading and business investment company. It develops and manages businesses across a broad range of industries, including metal products, transportation and infrastructure, construction systems, mineral resources and energy, chemical products, lifestyle-related products and services, and media and digital services.
The company connects manufacturers, suppliers, customers and financial partners through international trading, supply-chain management, project development and business investment.
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