Sumitomo (OTCMKTS:SSUMY) Shares Gap Down – Here’s Why

Shares of Sumitomo Corp. (OTCMKTS:SSUMY) gapped down prior to trading on Wednesday . The stock had previously closed at $42.1190, but opened at $39.64. Sumitomo shares last traded at $39.5646, with a volume of 7,697 shares trading hands.

Sumitomo Trading Down 3.6%

The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $47.03 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.59 and a beta of 0.55. The firm has a 50-day moving average of $41.46 and a 200 day moving average of $38.57.

Sumitomo (OTCMKTS:SSUMY) last posted 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 analysts’ expectations of $14.01 billion. Sumitomo had a return on equity of 12.21% and a net margin of 8.19%. As a group, equities analysts predict that Sumitomo Corp. will post 3.47 EPS for the current fiscal year.

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.