Sumitomo Electric Industries (SMTOY) Projected to Announce Quarterly Earnings on Friday

Sumitomo Electric Industries (OTCMKTS:SMTOY) is projected to post its resultson Friday, July 31st. Analysts expect Sumitomo Electric Industries to post earnings of $0.0671 per share and revenue of $7.5673 billion for the quarter.

Sumitomo Electric Industries Trading Up 1.8%

SMTOY stock opened at $6.43 on Wednesday. The firm has a market cap of $40.87 billion, a P/E ratio of 16.50 and a beta of 1.01. Sumitomo Electric Industries has a 12-month low of $0.60 and a 12-month high of $6.64. The stock’s 50 day simple moving average is $50.27 and its 200 day simple moving average is $55.90.

Analyst Ratings Changes

Separately, Nomura upgraded shares of Sumitomo Electric Industries to a “strong-buy” rating in a research note on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, According to MarketBeat, the company currently has an average rating of “Strong Buy”.

About Sumitomo Electric Industries

Sumitomo Electric Industries, Ltd. is a diversified Japanese industrial manufacturing company renowned for its expertise in electric wire and cable technologies. The company operates through multiple business segments, including power and communications systems, automotive and electronics materials, and industrial materials. Its product portfolio spans high-performance power cables, optical fibers, wiring harnesses, and various electronic components designed to serve the needs of energy utilities, telecommunications carriers, automotive manufacturers and industrial clients worldwide.

In the power and communications segment, Sumitomo Electric produces underground and submarine power cables, cable accessories and optical fiber cables for high-speed data transmission.