Sumitomo (OTCMKTS:SSUMY) Releases Earnings Results, Misses Expectations By $0.02 EPS

Sumitomo (OTCMKTS:SSUMY) posted its quarterly earnings data on Monday. The conglomerate reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02), Zacks reports. The firm had revenue of $12.47 billion during the quarter, compared to the consensus estimate of $12.01 billion. Sumitomo had a net margin of 8.37% and a return on equity of 13.55%.

Sumitomo Trading Down 0.2%

OTCMKTS:SSUMY opened at $10.59 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.94. Sumitomo has a one year low of $7.14 and a one year high of $12.45. The company has a market cap of $50.63 billion, a PE ratio of 12.34, a PEG ratio of 0.77 and a beta of 0.64. The firm has a 50-day moving average of $11.23 and a 200-day moving average of $28.19.

Analysts Set New Price Targets

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

About Sumitomo

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.