Sumitomo (OTCMKTS:SSUMY) Hits New 52-Week High - Still a Buy?

Sumitomo Corp. (OTCMKTS:SSUMY - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $26.69 and last traded at $26.62, with a volume of 42173 shares. The stock had previously closed at $25.50.

Analysts Set New Price Targets

Separately, Nomura Securities raised shares of Sumitomo to a "strong-buy" rating in a report on Wednesday, May 28th.

Sumitomo Trading Down 1.6%

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.56 and a quick ratio of 1.05. The company has a market cap of $31.85 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 6.08 and a beta of 0.62. The company's 50 day simple moving average is $25.45 and its two-hundred day simple moving average is $23.68.

Sumitomo (OTCMKTS:SSUMY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The conglomerate reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. The business had revenue of $13.83 billion for the quarter, compared to analysts' expectations of $11.78 billion. Sumitomo had a net margin of 7.71% and a return on equity of 11.60%. As a group, sell-side analysts anticipate that Sumitomo Corp. will post 2.82 EPS for the current fiscal year.

About Sumitomo

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.