Sumitomo (OTCMKTS:SSUMY) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Key Points

• Sumitomo Corporation reported a quarterly earnings per share (EPS) of $0.98, exceeding expectations by $0.04.
• The company's revenue was $12 billion, which fell short of analyst forecasts of $12.66 billion.
• Sumitomo received a "strong-buy" rating upgrade from Nomura Securities prior to the earnings release.

Sumitomo (OTCMKTS:SSUMY - Get Free Report) released its quarterly earnings results on Thursday. The conglomerate reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04, Zacks reports. The business had revenue of $12 billion during the quarter, compared to analysts' expectations of $12.66 billion. Sumitomo had a return on equity of 11.60% and a net margin of 7.71%.

Sumitomo Stock Performance

Shares of SSUMY stock traded up $0.21 during mid-day trading on Friday, reaching $25.93. The stock had a trading volume of 66,543 shares, compared to its average volume of 83,011. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.55. The firm has a market cap of $31.40 billion, a PE ratio of 8.56, a P/E/G ratio of 5.72 and a beta of 0.62. Sumitomo has a one year low of $19.00 and a one year high of $26.80. The firm's 50 day simple moving average is $25.46 and its 200 day simple moving average is $23.85.

Analyst Ratings Changes

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

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.

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