Sumitomo (OTCMKTS:SSUMY) Shares Gap Down - Time to Sell?

Key Points

• Shares of Sumitomo Corp. gapped down from a previous close of $26.55 to open at $25.50, with a total trading volume of 6,848 shares.
• Nomura Securities upgraded Sumitomo to a "strong-buy" rating, indicating positive growth expectations despite the recent stock dip.
• For the last quarter, Sumitomo reported an EPS of $0.98, exceeding estimates, with revenues totaling $12 billion against a consensus of $12.66 billion.

Shares of Sumitomo Corp. (OTCMKTS:SSUMY - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $26.55, but opened at $25.50. Sumitomo shares last traded at $25.50, with a volume of 6,848 shares trading hands.

Wall Street Analysts Forecast Growth

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

Sumitomo Price Performance

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 capitalization of $32.06 billion, a PE ratio of 7.85, a PEG ratio of 2.20 and a beta of 0.64. The firm has a 50-day moving average of $25.49 and a 200 day moving average of $23.97.

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

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