Sumitomo (OTCMKTS:SSUMY) Hits New 1-Year High - Should You Buy?

Key Points

• Sumitomo hit a new 52-week high, trading as high as $47.73 and last at $46.93 on volume of 11,843 shares, well above its 50-day and 200-day moving averages (~$37.92 and $36.11).
• Quarterly results showed an EPS beat of $1.02 vs. $0.90 consensus but revenue of $12.48B missed estimates of $14.01B; the company has a $55.68B market cap, P/E of 14.08, net margin 8.19% and ROE 12.04%.
• Analyst sentiment is mixed but skewed positive: Zacks upgraded Sumitomo from "strong sell" to "hold," MarketBeat shows one Strong Buy and one Hold for an average rating of Buy, with sell-side forecasts of ~3.43 EPS for the year.

Shares of Sumitomo Corp. (OTCMKTS:SSUMY - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $47.73 and last traded at $46.93, with a volume of 11843 shares. The stock had previously closed at $44.6393.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Sumitomo from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy".

Sumitomo Price Performance

The company has a 50 day moving average of $37.92 and a 200-day moving average of $36.11. The firm has a market capitalization of $55.68 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.43 and a beta of 0.51. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56.

Sumitomo (OTCMKTS:SSUMY - Get Free Report) last released its earnings results on Friday, May 1st. The conglomerate reported $1.02 EPS for the quarter, beating the consensus estimate of $0.90 by $0.12. The firm had revenue of $12.48 billion for the quarter, compared to analyst estimates of $14.01 billion. Sumitomo had a net margin of 8.19% and a return on equity of 12.04%. On average, sell-side analysts predict that Sumitomo Corp. will post 3.43 EPS for the current year.

Sumitomo Company Profile

Sumitomo Corporation OTCMKTS: SSUMY is a global integrated trading and investment company headquartered in Japan. As one of the country's major sogo shosha (general trading firms), Sumitomo operates a diversified business portfolio that spans trading, project development, equity investments and provision of services to industrial and consumer markets. The company acts as a commercial intermediary and strategic investor, linking producers, manufacturers and end users across international supply chains.

Sumitomo's business activities cover a wide range of sectors, including metal products and mining, transportation and construction systems, infrastructure and real estate, energy and chemical products, electronics and digital solutions, and consumer goods and food.

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