Sumitomo (OTCMKTS:SSUMY) Announces Earnings Results

Sumitomo (OTCMKTS:SSUMY) posted its earnings results on Monday. The conglomerate reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02), Zacks reports. The company had revenue of $12.47 billion during the quarter, compared to analyst estimates of $12.01 billion. Sumitomo had a net margin of 8.23% and a return on equity of 12.71%.

Sumitomo Stock Down 0.2%

OTCMKTS:SSUMY opened at $10.61 on Tuesday. Sumitomo has a 52 week low of $7.14 and a 52 week high of $12.45. The stock’s fifty day moving average is $11.25 and its two-hundred day moving average is $28.32. The stock has a market capitalization of $50.72 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 0.80 and a beta of 0.60. The company has a quick ratio of 0.94, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Sumitomo from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 7th. One equities research analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Strong Buy”.

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.