Zacks Research upgraded shares of Sumitomo (OTCMKTS:SSUMY – Free Report) from a hold rating to a strong-buy rating in a report released on Monday morning,Zacks.com reports.
Sumitomo Price Performance
SSUMY opened at $29.10 on Monday. Sumitomo has a one year low of $19.18 and a one year high of $30.00. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.59 and a quick ratio of 1.07. The company’s 50 day simple moving average is $28.13 and its 200-day simple moving average is $25.78. The stock has a market capitalization of $35.25 billion, a P/E ratio of 8.64, a price-to-earnings-growth ratio of 1.73 and a beta of 0.56.
Sumitomo (OTCMKTS:SSUMY – Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The conglomerate reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. Sumitomo had a net margin of 8.31% and a return on equity of 12.49%. The business had revenue of $12 billion for the quarter, compared to analysts’ expectations of $12.66 billion. Sell-side analysts anticipate that Sumitomo will post 2.82 earnings per share for the current fiscal year.
Sumitomo Company Profile
Sumitomo Corporation engages in general trading business worldwide. It operates through six segments: Metal Products; Transportation & Construction Systems; Infrastructure; Media & Digital; Living Related & Real Estate; and Mineral Resources, Energy, Chemical & Electronics. The company provides steel sheets and tubular products; and manufactures, leases, sells, services, and finances ships, aircrafts, motor vehicles, construction equipment, and components and parts.
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