Sumitomo (OTCMKTS:SSUMY) Shares Gap Down - Here's What Happened

Key Points

• Gapped down pre-market from $34.98 to $33.63 and was last quoted at $34.94, trading about 27,196 shares as the stock was roughly down 0.6% on the report.
• Sumitomo reported quarterly EPS of $0.58, missing estimates by $0.20 even though revenue of $11.85 billion slightly beat the $11.72 billion consensus; net margin was 7.56% and ROE 11.27%.
• Analyst sentiment is mixed after Zacks upgraded the stock from "strong sell" to "hold" while MarketBeat shows a consensus "Buy" (one Strong Buy, one Hold); valuation metrics include a $41.82 billion market cap and a P/E of 11.29, with the 50‑day MA ($39.66) above the current price.

Sumitomo Corp. (OTCMKTS:SSUMY - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $34.98, but opened at $33.63. Sumitomo shares last traded at $34.94, with a volume of 27,196 shares traded.

Analyst Upgrades and Downgrades

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

Sumitomo Stock Down 0.6%

The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The firm's 50-day moving average price is $39.66 and its 200 day moving average price is $33.84. The firm has a market cap of $41.82 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 1.34 and a beta of 0.46.

Sumitomo (OTCMKTS:SSUMY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The conglomerate reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.20). Sumitomo had a net margin of 7.56% and a return on equity of 11.27%. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.72 billion. As a group, research analysts expect that Sumitomo Corp. will post 2.82 earnings per share for the current year.

About Sumitomo

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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