Sumitomo (OTCMKTS:SSUMY) Reaches New 1-Year High Following Analyst Upgrade

Sumitomo Corp. (OTCMKTS:SSUMY) reached a new 52-week high during trading on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $12.42 and last traded at $12.03, with a volume of 8149 shares trading hands. The stock had previously closed at $11.71.

Sumitomo Stock Performance

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 company has a market cap of $56.89 billion, a PE ratio of 14.29, a P/E/G ratio of 0.75 and a beta of 0.58. The stock’s 50 day simple moving average is $14.09 and its two-hundred day simple moving average is $30.95.

Sumitomo (OTCMKTS:SSUMY) last announced its quarterly earnings results on Friday, July 31st. The conglomerate reported $0.25 earnings per share 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 company had revenue of $12.24 billion during the quarter, compared to analyst estimates of $11.50 billion. As a group, research analysts anticipate that Sumitomo Corp. will post 2.1 earnings per share for the current year.

Sumitomo Company Profile

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.