Sumitomo (OTCMKTS:SSUMY) Shares Cross Above 50 Day Moving Average - Should You Sell?

Sumitomo Corp. (OTCMKTS:SSUMY - Get Free Report)'s stock price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $27.57 and traded as high as $29.95. Sumitomo shares last traded at $29.94, with a volume of 50,352 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Nomura Securities raised shares of Sumitomo to a "strong-buy" rating in a research report on Wednesday, May 28th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company has a consensus rating of "Strong Buy".

Sumitomo Price Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.05 and a current ratio of 1.56. The stock's 50-day moving average is $27.57 and its 200 day moving average is $25.52. The stock has a market capitalization of $36.27 billion, a PE ratio of 8.88, a P/E/G ratio of 1.90 and a beta of 0.58.

Sumitomo (OTCMKTS:SSUMY - Get Free Report) last posted its earnings results on Thursday, July 31st. The conglomerate reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.04. The firm had revenue of $12 billion for the quarter, compared to the consensus estimate of $12.66 billion. Sumitomo had a net margin of 8.31% and a return on equity of 12.70%. As a group, equities analysts expect that Sumitomo Corp. will post 2.82 earnings per share for the current 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.

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