Sumitomo Electric Industries (OTCMKTS:SMTOY) Issues Earnings Results, Misses Expectations By $0.14 EPS
by Amy Steele · The Cerbat GemSumitomo Electric Industries (OTCMKTS:SMTOY – Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.14), Zacks reports.
Sumitomo Electric Industries Price Performance
Shares of SMTOY stock traded down $2.37 during midday trading on Tuesday, reaching $72.15. 12,205 shares of the company traded hands, compared to its average volume of 98,014. The firm’s 50 day simple moving average is $63.55 and its two-hundred day simple moving average is $50.66. Sumitomo Electric Industries has a 1-year low of $17.26 and a 1-year high of $74.52. The firm has a market cap of $56.27 billion, a PE ratio of 32.95 and a beta of 0.97.
Analysts Set New Price Targets
SMTOY has been the subject of a number of recent analyst reports. Nomura upgraded shares of Sumitomo Electric Industries to a “strong-buy” rating in a research report on Wednesday, April 1st. Jefferies Financial Group upgraded shares of Sumitomo Electric Industries from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 4th. Three analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, Sumitomo Electric Industries has a consensus rating of “Strong Buy”.
View Our Latest Research Report on SMTOY
About Sumitomo Electric Industries
Sumitomo Electric Industries, Ltd. is a diversified Japanese industrial manufacturing company renowned for its expertise in electric wire and cable technologies. The company operates through multiple business segments, including power and communications systems, automotive and electronics materials, and industrial materials. Its product portfolio spans high-performance power cables, optical fibers, wiring harnesses, and various electronic components designed to serve the needs of energy utilities, telecommunications carriers, automotive manufacturers and industrial clients worldwide.
In the power and communications segment, Sumitomo Electric produces underground and submarine power cables, cable accessories and optical fiber cables for high-speed data transmission.