ITOCHU CORP/ADR (OTCMKTS:ITOCY) Lowered to Sell at Zacks Investment Research
According to Zacks, “ITOCHU Corporation operates as a general trading company. It is involved in domestic trading, import/export, and overseas trading of various products such as textile, machinery, information and communications technology, aerospace, electronics, energy, metals, minerals, chemicals, forest products, general merchandise, food, finance, realty, insurance, and logistics services, as well as business investment in Japan and overseas. ITOCHU Corporation is headquartered in Tokyo, Japan. “
Separately, Goldman Sachs Group upgraded ITOCHU CORP/ADR from a neutral rating to a buy rating in a research report on Wednesday, June 17th.
ITOCHU CORP/ADR (OTCMKTS:ITOCY) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.92 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.92. ITOCHU CORP/ADR had a return on equity of 13.19% and a net margin of 4.56%. The business had revenue of $25 billion during the quarter, compared to the consensus estimate of $28.78 billion. Research analysts forecast that ITOCHU CORP/ADR will post 5.23 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC grew its stake in ITOCHU CORP/ADR by 7.4% in the first quarter. Parametric Portfolio Associates LLC now owns 1,048,529 shares of the company’s stock valued at $42,907,000 after purchasing an additional 72,680 shares during the last quarter. Todd Asset Management LLC purchased a new position in ITOCHU CORP/ADR in the first quarter valued at about $2,717,000. Finally, Quadrant Capital Group LLC grew its stake in ITOCHU CORP/ADR by 10.1% in the fourth quarter. Quadrant Capital Group LLC now owns 10,242 shares of the company’s stock valued at $454,000 after purchasing an additional 937 shares during the last quarter. Hedge funds and other institutional investors own 0.16% of the company’s stock.
About ITOCHU CORP/ADR
ITOCHU Corporation engages in trading and importing/exporting various products worldwide. The company's Textile segment produces and sells textile raw materials, garment materials, textile products, apparel, and industrial materials; and focuses on import licenses for lifestyle brands, fashion accessories, and garments in various areas, such as luxury, casual, and sports.
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