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

Sumitomo Corp. (OTCMKTS:SSUMY)’s share price gapped down prior to trading on Monday . The stock had previously closed at $30.45, but opened at $29.44. Sumitomo shares last traded at $30.34, with a volume of 10,001 shares trading hands.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Sumitomo from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Sumitomo currently has an average rating of “Strong Buy”.

Sumitomo Trading Up 0.3%

The company has a market cap of $37.00 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 1.23 and a beta of 0.53. The company’s 50 day simple moving average is $29.89 and its two-hundred day simple moving average is $27.57. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.57 and a quick ratio of 1.06.

Sumitomo (OTCMKTS:SSUMY) last posted its quarterly earnings data on Friday, October 31st. The conglomerate reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.13). Sumitomo had a return on equity of 12.31% and a net margin of 8.34%.The company had revenue of $11.35 billion for the quarter, compared to analysts’ expectations of $11.60 billion. As a group, sell-side analysts anticipate that Sumitomo Corp. will post 2.82 EPS for the current fiscal year.

About Sumitomo

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.