Sumitomo (OTCMKTS:SSUMY) Stock Rating Upgraded by Zacks Research

Sumitomo (OTCMKTS:SSUMY) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday, Zacks reports.

Sumitomo Price Performance

Shares of SSUMY opened at $11.99 on Monday. The business’s fifty day moving average is $14.63 and its 200 day moving average is $31.16. Sumitomo has a 12-month low of $7.12 and a 12-month high of $12.42. The company has a quick ratio of 0.94, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The stock has a market cap of $57.34 billion, a P/E ratio of 14.41, a P/E/G ratio of 0.73 and a beta of 0.58.

Sumitomo (OTCMKTS:SSUMY) last announced its quarterly earnings results on Friday, July 31st. The conglomerate reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.58). Sumitomo had a net margin of 8.23% and a return on equity of 12.71%. The business had revenue of $12.24 billion for the quarter, compared to the consensus estimate of $11.50 billion. Sell-side analysts anticipate that Sumitomo will post 2.1 earnings per share for the current fiscal year.

About Sumitomo

Sumitomo Corporation is a diversified Japanese trading and business investment company. It develops and manages businesses across a broad range of industries, including metal products, transportation and infrastructure, construction systems, mineral resources and energy, chemical products, lifestyle-related products and services, and media and digital services.

The company connects manufacturers, suppliers, customers and financial partners through international trading, supply-chain management, project development and business investment.