Sumitomo Corp. (OTCMKTS:SSUMY – Get Free Report)’s stock price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $11.24 and traded as high as $11.50. Sumitomo shares last traded at $11.33, with a volume of 293,346 shares trading hands.
Analyst Upgrades and Downgrades
Separately, Zacks Research upgraded Sumitomo from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 7th. One research analyst has rated the stock with a Strong Buy rating. Based on data from MarketBeat, the company presently has an average rating of “Strong Buy”.
View Our Latest Stock Report on SSUMY
Sumitomo Stock Down 0.3%
The business’s 50 day simple moving average is $11.25 and its 200-day simple moving average is $28.59. The company has a market cap of $53.16 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 0.80 and a beta of 0.60. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.94 and a current ratio of 1.34.
Sumitomo (OTCMKTS:SSUMY – Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The conglomerate reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.58). Sumitomo had a return on equity of 12.71% and a net margin of 8.23%. The company had revenue of $12.24 billion during the quarter, compared to analyst estimates of $11.50 billion. Sell-side analysts expect that Sumitomo Corp. will post 1.60 earnings per share for the current year.
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.
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