Itochu (OTCMKTS:ITOCY) Releases Earnings Results

Itochu (OTCMKTS:ITOCY) issued its quarterly earnings data on Friday. The company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18, Zacks reports. The company had revenue of $24.49 billion for the quarter, compared to analyst estimates of $28.52 billion.

Itochu Trading Up 0.7%

OTCMKTS:ITOCY opened at $12.50 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.96 and a current ratio of 1.30. Itochu has a one year low of $9.79 and a one year high of $15.10. The business’s 50-day simple moving average is $12.94 and its 200 day simple moving average is $58.13. The stock has a market cap of $99.06 billion, a price-to-earnings ratio of 13.30 and a beta of 0.70.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Itochu stock. Aristotle Capital Management LLC acquired a new stake in Itochu Corp. (OTCMKTS:ITOCY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,762 shares of the company’s stock, valued at approximately $1,487,000. Institutional investors own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ITOCY shares. Nomura upgraded Itochu to a “strong-buy” rating in a research note on Wednesday, February 25th. Zacks Research upgraded Itochu to a “hold” rating in a research note on Monday, January 12th. The Goldman Sachs Group started coverage on Itochu in a research note on Tuesday, January 6th. They set a “buy” rating on the stock. Finally, Daiwa Securities Group upgraded Itochu to a “strong-buy” rating in a research note on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Itochu has an average rating of “Buy”.

Itochu Company Profile

Itochu Corporation is a major Japanese trading company (sogo shosha) that operates a diversified global business spanning trading, investment and services. The company traces its roots to the 19th century and has evolved from a textile trading firm into a broad-based commercial and investment group. Its American Depositary Receipts trade over the counter under the symbol ITOCY.

Itochu conducts commodity and product trading across a wide range of sectors including textiles and apparel, machinery, metals and minerals, energy and chemicals, food and consumer products, information and communications technology, and real estate.