Sumitomo (SSUMY) Set to Release Quarterly Earnings on Friday

Sumitomo (OTCMKTS:SSUMY) is anticipated to issue its results after the market closes on Friday, October 30th. Analysts expect the company to announce earnings of $0.2318 per share and revenue of $12.01 billion for the quarter.

Sumitomo (OTCMKTS:SSUMY) last released its quarterly earnings results on Friday, July 31st. The conglomerate reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.58). The company had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $11.50 billion. Sumitomo had a net margin of 8.23% and a return on equity of 12.71%. On average, analysts expect Sumitomo to post $1.60 EPS for the current fiscal year and $1.70 EPS for the next fiscal year.

Sumitomo Trading Down 1.6%

Shares of SSUMY stock opened at $11.15 on Thursday. The firm has a 50 day moving average price of $11.24 and a two-hundred day moving average price of $28.72. The company has a quick ratio of 0.94, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $53.30 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 0.92 and a beta of 0.60. Sumitomo has a 12-month low of $7.14 and a 12-month high of $12.45.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Sumitomo from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 7th. One research analyst has rated the stock with a Strong Buy rating. According to MarketBeat.com, the company currently has an average rating of “Strong Buy”.

About Sumitomo

Sumitomo Corporation (OTCMKTS: SSUMY) is a Japan-based global trading and business investment company. It develops and manages businesses across a broad range of industries, connecting suppliers, manufacturers, service providers and customers through international networks and operating companies.

The company’s activities include metal products, transportation and infrastructure, construction systems, urban development, media and digital services, lifestyle-related businesses, mineral resources, energy transformation, and chemicals.