Sumitomo (SSUMY) Projected to Post Earnings on Friday

Key Points

• Sumitomo is expected to report earnings after market close on Friday, October 30. Analysts forecast quarterly EPS of $0.2318 and revenue of $12.01 billion.
• In its previous quarter, Sumitomo reported EPS of $0.25, missing the $0.83 consensus estimate, while revenue of $12.24 billion exceeded expectations.
• Analyst sentiment is strongly positive: Zacks upgraded the stock to “strong buy,” and MarketBeat reports a consensus rating of “Strong Buy.”

Sumitomo (OTCMKTS:SSUMY - Get Free Report) is expected to be issuing its results after the market closes on Friday, October 30th. Analysts expect Sumitomo to announce earnings of $0.2318 per share and revenue of $12.01 billion for the quarter.

Sumitomo (OTCMKTS:SSUMY - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The conglomerate reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.58). The business had revenue of $12.24 billion during the quarter, compared to the consensus estimate of $11.50 billion. Sumitomo had a return on equity of 12.71% and a net margin of 8.23%. On average, analysts expect Sumitomo to post $1.54 EPS for the current fiscal year and $1.65 EPS for the next fiscal year.

Sumitomo Stock Performance

OTCMKTS SSUMY opened at $10.85 on Friday. The company has a market capitalization of $51.87 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 0.93 and a beta of 0.60. Sumitomo has a twelve month low of $7.14 and a twelve month high of $12.45. The stock has a fifty day simple moving average of $11.25 and a 200 day simple moving average of $25.13. The company has a quick ratio of 0.94, a current ratio of 1.34 and a debt-to-equity ratio of 0.69.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Sumitomo from a "hold" rating to a "strong-buy" rating in a report on Monday, September 7th. One investment analyst has rated the stock with a Strong Buy rating. According to MarketBeat, the stock currently has a consensus rating of "Strong Buy".

Sumitomo Company Profile

Sumitomo Corporation OTCMKTS: SSUMY is a Japan-based global trading and business investment company. It develops and manages businesses across a broad range of industries, connecting suppliers, manufacturers, service providers and customers through international networks and operating companies.

The company's activities include metal products, transportation and infrastructure, construction systems, urban development, media and digital services, lifestyle-related businesses, mineral resources, energy transformation, and chemicals.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.