Nomura Securities upgraded shares of Sumitomo (OTCMKTS:SSUMY - Free Report) to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.
Sumitomo Stock Up 1.8%
Shares of SSUMY stock traded up $0.46 during mid-day trading on Wednesday, hitting $25.98. The company's stock had a trading volume of 129,293 shares, compared to its average volume of 86,934. Sumitomo has a 52-week low of $19.00 and a 52-week high of $26.89. The business has a 50-day moving average price of $23.93 and a 200 day moving average price of $22.64. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.24 and a current ratio of 1.77. The stock has a market cap of $31.46 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.67 and a beta of 0.65.
Sumitomo (OTCMKTS:SSUMY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The conglomerate reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. Sumitomo had a return on equity of 7.73% and a net margin of 5.42%. The firm had revenue of $13.83 billion during the quarter, compared to analysts' expectations of $11.78 billion. Research analysts predict that Sumitomo will post 2.82 EPS for the current fiscal year.
About Sumitomo
(
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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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