Sumitomo (OTCMKTS:SSUMY) Hits New 52-Week High – What’s Next?

Sumitomo Corp. (OTCMKTS:SSUMY)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $31.1965 and last traded at $31.16, with a volume of 105474 shares trading hands. The stock had previously closed at $30.7050.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Sumitomo from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

Sumitomo Stock Up 1.4%

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.07 and a current ratio of 1.59. The stock’s 50-day moving average price is $29.66 and its two-hundred day moving average price is $27.23. The stock has a market capitalization of $37.71 billion, a PE ratio of 9.18, a P/E/G ratio of 1.26 and a beta of 0.53.

Sumitomo (OTCMKTS:SSUMY) last posted its quarterly earnings data on Friday, October 31st. The conglomerate reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.13). The company had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.60 billion. Sumitomo had a net margin of 8.34% and a return on equity of 12.52%. As a group, analysts expect that Sumitomo Corp. will post 2.82 EPS for the current fiscal year.

Sumitomo Company Profile

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.