Sumitomo (OTCMKTS:SSUMY) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Sumitomo (OTCMKTS:SSUMY) issued its earnings results on Monday. The conglomerate reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02), Zacks reports. Sumitomo had a return on equity of 12.71% and a net margin of 8.23%.

Sumitomo Stock Performance

Shares of OTCMKTS SSUMY opened at $10.63 on Monday. The stock has a market capitalization of $50.84 billion, a P/E ratio of 12.77, a price-to-earnings-growth ratio of 0.77 and a beta of 0.60. The business has a fifty day moving average price of $11.25 and a 200 day moving average price of $28.46. Sumitomo has a 1-year low of $7.14 and a 1-year high of $12.45. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.94.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Sumitomo from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 7th. One equities research analyst has rated the stock with a Strong Buy rating. According to MarketBeat.com, the stock currently has an average 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.