Sumitomo (OTCMKTS:SSUMY) Reaches New 1-Year High – What’s Next?

by · The Cerbat Gem

Sumitomo Corp. (OTCMKTS:SSUMY – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $32.30 and last traded at $32.25, with a volume of 37242 shares changing hands. The stock had previously closed at $31.4950.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Report on SSUMY

Sumitomo Stock Performance

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 has a market capitalization of $38.52 billion, a PE ratio of 9.38, a PEG ratio of 1.30 and a beta of 0.49. The company has a 50 day moving average price of $30.22 and a 200 day moving average price of $27.95.

Sumitomo (OTCMKTS:SSUMY – Get Free Report) last issued its quarterly earnings results on Friday, October 31st. The conglomerate reported $0.73 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $11.60 billion. Equities analysts forecast that Sumitomo Corp. will post 2.82 EPS for the current year.

Sumitomo Company Profile

(Get Free Report)

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.

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