Sumitomo (OTCMKTS:SSUMY) Issues Earnings Results, Beats Estimates By $0.12 EPS

Sumitomo (OTCMKTS:SSUMY) announced its quarterly earnings results on Friday. The conglomerate reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.12, Zacks reports. The firm had revenue of $12.48 billion during the quarter, compared to the consensus estimate of $14.01 billion. Sumitomo had a return on equity of 11.27% and a net margin of 7.56%.

Sumitomo Price Performance

Shares of OTCMKTS SSUMY opened at $43.58 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56. Sumitomo has a twelve month low of $24.00 and a twelve month high of $44.50. The stock has a 50 day moving average of $37.81 and a two-hundred day moving average of $35.81. The stock has a market cap of $52.07 billion, a P/E ratio of 14.15, a P/E/G ratio of 1.23 and a beta of 0.53.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Sumitomo from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Sumitomo has a consensus rating of “Buy”.

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.