Sumitomo (OTCMKTS:SSUMY) Shares Gap Down – What’s Next?
by Scott Moore · The Cerbat GemSumitomo Corp. (OTCMKTS:SSUMY – Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $35.08, but opened at $33.69. Sumitomo shares last traded at $34.7950, with a volume of 27,778 shares traded.
Analyst Ratings Changes
Separately, Zacks Research upgraded shares of Sumitomo from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Strong Buy”.
Check Out Our Latest Research Report on SSUMY
Sumitomo Price Performance
The stock has a 50-day moving average of $31.40 and a two-hundred day moving average of $28.70. The firm has a market cap of $42.24 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 1.40 and a beta of 0.49. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50.
Sumitomo (OTCMKTS:SSUMY – Get Free Report) last posted its quarterly earnings data on Friday, October 31st. The conglomerate reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.13). The firm had revenue of $11.35 billion for the quarter, compared to analysts’ expectations of $11.60 billion. Sumitomo had a net margin of 8.34% and a return on equity of 12.31%. On average, analysts anticipate that Sumitomo Corp. will post 2.82 EPS for the current year.
About Sumitomo
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.