Sumitomo (OTCMKTS:SSUMY) Reaches New 52-Week High – What’s Next?

Sumitomo Corp. (OTCMKTS:SSUMY)’s stock price reached a new 52-week high on Monday . The company traded as high as $35.89 and last traded at $35.89, with a volume of 545 shares traded. The stock had previously closed at $34.91.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Sumitomo from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, Sumitomo has a consensus rating of “Strong Buy”.

Sumitomo Stock Up 1.5%

The company has a market capitalization of $42.59 billion, a PE ratio of 10.37, a P/E/G ratio of 1.40 and a beta of 0.49. 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 company’s 50-day moving average is $31.71 and its 200 day moving average is $28.91.

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