Sumitomo (OTCMKTS:SSUMY) Hits New 1-Year High – Should You Buy?

Shares of Sumitomo Corp. (OTCMKTS:SSUMY) hit a new 52-week high during trading on Thursday . The stock traded as high as $47.73 and last traded at $46.93, with a volume of 11843 shares. The stock had previously closed at $44.6393.

Analyst Upgrades and Downgrades

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

Sumitomo Price Performance

The company has a 50 day moving average of $37.92 and a 200-day moving average of $36.11. The firm has a market capitalization of $55.68 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.43 and a beta of 0.51. 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 (OTCMKTS:SSUMY) last released its earnings results on Friday, May 1st. The conglomerate reported $1.02 EPS for the quarter, beating the consensus estimate of $0.90 by $0.12. The firm had revenue of $12.48 billion for the quarter, compared to analyst estimates of $14.01 billion. Sumitomo had a net margin of 8.19% and a return on equity of 12.04%. On average, sell-side analysts predict that Sumitomo Corp. will post 3.43 EPS for the current 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.