Itochu (OTCMKTS:ITOCY) Posts Quarterly Earnings Results, Meets Expectations

Key Points

• Quarterly EPS: Itochu reported earnings of $0.18 per share for the quarter, meeting analysts' consensus of $0.18.
• Shares traded at $12.50 midday with a market cap of $99.06 billion and a price-to-earnings ratio of 13.30; the stock's 52-week range is $9.79 to $15.10 and volume was below its average.
• Analysts have recently upgraded coverage (including Goldman Sachs, Nomura and Daiwa) and the consensus rating from sell-side firms is a Buy.

Itochu (OTCMKTS:ITOCY - Get Free Report) issued its quarterly earnings results on Friday. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.18, Zacks reports.

Itochu Price Performance

Shares of Itochu stock traded up $0.09 during midday trading on Friday, hitting $12.50. 317,216 shares of the company traded hands, compared to its average volume of 470,082. The stock has a market cap of $99.06 billion, a price-to-earnings ratio of 13.30 and a beta of 0.70. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.96 and a current ratio of 1.30. The firm's fifty day moving average price is $12.94 and its 200-day moving average price is $58.13. Itochu has a 12 month low of $9.79 and a 12 month high of $15.10.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Itochu stock. Aristotle Capital Management LLC purchased a new stake in Itochu Corp. (OTCMKTS:ITOCY - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,762 shares of the company's stock, valued at approximately $1,487,000. Institutional investors and hedge funds own 0.08% of the company's stock.

Analysts Set New Price Targets

ITOCY has been the topic of several analyst reports. Zacks Research raised Itochu to a "hold" rating in a report on Monday, January 12th. The Goldman Sachs Group assumed coverage on Itochu in a research note on Tuesday, January 6th. They issued a "buy" rating for the company. Nomura raised shares of Itochu to a "strong-buy" rating in a research report on Wednesday, February 25th. Finally, Daiwa Securities Group upgraded shares of Itochu to a "strong-buy" rating in a research note on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy".

About Itochu

Itochu Corporation is a major Japanese trading company (sogo shosha) that operates a diversified global business spanning trading, investment and services. The company traces its roots to the 19th century and has evolved from a textile trading firm into a broad-based commercial and investment group. Its American Depositary Receipts trade over the counter under the symbol ITOCY.

Itochu conducts commodity and product trading across a wide range of sectors including textiles and apparel, machinery, metals and minerals, energy and chemicals, food and consumer products, information and communications technology, and real estate.

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