Sumitomo (SSUMY) Expected to Announce Earnings on Friday

Key Points

• Sumitomo is expected to announce quarterly results on Friday, May 1, with analysts projecting $0.7260 EPS and $13.7092 billion in revenue for the quarter.
• In the prior quarter Sumitomo missed EPS estimates (reported $0.58 vs. consensus $0.78) while revenues of $11.85 billion slightly exceeded expectations; analysts now forecast about $3 EPS for both the current and next fiscal year.
• Shares opened at $36.04 and were trading down ~1.6%, with a market cap of $43.06 billion, a P/E of 11.7, and a consensus analyst rating of "Buy" after mixed upgrades (Zacks moved to Hold).

Sumitomo (OTCMKTS:SSUMY - Get Free Report) is projected to post its resultson Friday, May 1st. Analysts expect Sumitomo to post earnings of $0.7260 per share and revenue of $13.7092 billion for the quarter.

Sumitomo (OTCMKTS:SSUMY - Get Free Report) last issued its earnings results on Wednesday, February 4th. The conglomerate reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.20). The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.72 billion. Sumitomo had a return on equity of 11.27% and a net margin of 7.56%. On average, analysts expect Sumitomo to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Sumitomo Trading Down 1.6%

Shares of SSUMY stock opened at $36.04 on Friday. The company has a market cap of $43.06 billion, a P/E ratio of 11.70, a PEG ratio of 1.20 and a beta of 0.53. The stock has a 50 day simple moving average of $38.51 and a two-hundred day simple moving average of $35.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 1.26. Sumitomo has a fifty-two week low of $23.92 and a fifty-two week high of $44.15.

Analysts Set New Price Targets

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

Sumitomo Company Profile

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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