Sumitomo (OTCMKTS:SSUMY) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Sumitomo (OTCMKTS:SSUMY) from a hold rating to a strong sell rating in a report published on Tuesday,Zacks.com reports.

Sumitomo Trading Up 0.7%

OTCMKTS:SSUMY opened at $41.20 on Tuesday. Sumitomo has a 52 week low of $19.18 and a 52 week high of $42.52. The firm has a 50-day moving average price of $35.27 and a two-hundred day moving average price of $30.93. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.57. The firm has a market cap of $49.57 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.59 and a beta of 0.47.

Sumitomo (OTCMKTS:SSUMY) last released its earnings results on Friday, October 31st. The conglomerate reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.13). The business had revenue of $11.35 billion during the quarter, compared to the consensus estimate of $11.60 billion. Sumitomo had a net margin of 8.34% and a return on equity of 12.31%. On average, equities analysts expect that Sumitomo will post 2.82 earnings per share 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.