Sumitomo Corp. (OTCMKTS:SSUMY – Get Free Report)’s stock price gapped down prior to trading on Monday. The stock had previously closed at $10.98, but opened at $10.6250. Sumitomo shares last traded at $11.02, with a volume of 48,825 shares trading hands.
Analysts Set New Price Targets
Separately, Zacks Research upgraded shares of Sumitomo from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 7th. One equities research analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat.com, Sumitomo currently has an average rating of “Strong Buy”.
Check Out Our Latest Stock Report on SSUMY
Sumitomo Price Performance
The business has a fifty day moving average price of $11.27 and a 200 day moving average price of $25.90. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.94 and a current ratio of 1.34. The company has a market cap of $52.71 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.95 and a beta of 0.60.
Sumitomo (OTCMKTS:SSUMY – Get Free Report) last released its quarterly earnings results on Friday, July 31st. The conglomerate reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.58). The firm had revenue of $12.24 billion for the quarter, compared to the consensus estimate of $11.50 billion. Sumitomo had a return on equity of 12.71% and a net margin of 8.23%. As a group, research analysts anticipate that Sumitomo Corp. will post 1.51 earnings per share for the current year.
About Sumitomo
Sumitomo Corporation (OTCMKTS: SSUMY) is a Japan-based global trading and business investment company. It develops and manages businesses across a broad range of industries, connecting suppliers, manufacturers, service providers and customers through international networks and operating companies.
The company’s activities include metal products, transportation and infrastructure, construction systems, urban development, media and digital services, lifestyle-related businesses, mineral resources, energy transformation, and chemicals.
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