Sumitomo (OTCMKTS:SSUMY) Sets New 52-Week High – What’s Next?

Shares of Sumitomo Corp. (OTCMKTS:SSUMY) reached a new 52-week high during trading on Thursday . The company traded as high as $41.24 and last traded at $39.8730, with a volume of 38340 shares trading hands. The stock had previously closed at $39.86.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Sumitomo from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

Sumitomo Stock Up 0.2%

The stock has a market cap of $48.38 billion, a P/E ratio of 11.78, a P/E/G ratio of 1.58 and a beta of 0.47. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.50. The company has a 50-day simple moving average of $34.12 and a two-hundred day simple moving average of $30.34.

Sumitomo (OTCMKTS:SSUMY) last released its quarterly earnings data on Friday, October 31st. The conglomerate reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.13). The firm had revenue of $11.35 billion during the quarter, compared to analysts’ expectations of $11.60 billion. Sumitomo had a net margin of 8.34% and a return on equity of 12.31%. On average, equities analysts forecast that Sumitomo Corp. will post 2.82 EPS for the current year.

About Sumitomo

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.