Sumitomo (OTCMKTS:SSUMY) Reaches New 1-Year High – Time to Buy?

Sumitomo Corp. (OTCMKTS:SSUMY) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $48.85 and last traded at $48.6264, with a volume of 4246 shares traded. The stock had previously closed at $47.19.

Analyst Upgrades and Downgrades

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

Sumitomo Stock Performance

The company has a 50 day moving average of $38.30 and a two-hundred day moving average of $36.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 0.89. The company has a market capitalization of $58.20 billion, a PE ratio of 14.71, a PEG ratio of 1.75 and a beta of 0.51.

Sumitomo (OTCMKTS:SSUMY) last announced its quarterly earnings data on Friday, May 1st. The conglomerate reported $1.02 EPS for the quarter, beating the consensus estimate of $0.90 by $0.12. Sumitomo had a return on equity of 12.04% and a net margin of 8.19%.The business had revenue of $12.48 billion during the quarter, compared to analyst estimates of $14.01 billion. As a group, equities research analysts predict that Sumitomo Corp. will post 3.45 earnings per share 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.