Sumitomo Corp. (OTCMKTS:SSUMY - Get Free Report) was the target of a large drop in short interest in July. As of July 31st, there was short interest totaling 34,200 shares, adropof44.4% from the July 15th total of 61,500 shares. Based on an average daily trading volume, of 132,500 shares, the short-interest ratio is presently 0.3 days. Currently,0.0% of the company's stock are sold short. Currently,0.0% of the company's stock are sold short. Based on an average daily trading volume, of 132,500 shares, the short-interest ratio is presently 0.3 days.
Sumitomo Stock Performance
SSUMY stock traded up $0.6080 during trading on Friday, reaching $27.85. The company had a trading volume of 59,863 shares, compared to its average volume of 70,149. The firm has a 50-day simple moving average of $26.06 and a 200-day simple moving average of $24.51. The company has a market cap of $33.73 billion, a price-to-earnings ratio of 8.26, a price-to-earnings-growth ratio of 2.31 and a beta of 0.64. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.05 and a current ratio of 1.56. Sumitomo has a twelve month low of $19.18 and a twelve month high of $28.47.
Sumitomo (OTCMKTS:SSUMY - Get Free Report) last released its earnings results on Thursday, July 31st. The conglomerate reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.04. The company had revenue of $12 billion during the quarter, compared to analysts' expectations of $12.66 billion. Sumitomo had a net margin of 8.31% and a return on equity of 12.70%. As a group, sell-side analysts expect that Sumitomo will post 2.82 earnings per share for the current year.
Wall Street Analyst Weigh In
Separately, Nomura Securities upgraded shares of Sumitomo to a "strong-buy" rating in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Strong Buy".
Read Our Latest Stock Report on Sumitomo
About Sumitomo
(
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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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