Itochu (OTCMKTS:ITOCY) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Itochu (OTCMKTS:ITOCY) released its quarterly earnings data on Tuesday. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03, Zacks reports. The company had revenue of $25.59 billion during the quarter, compared to analyst estimates of $25.34 billion.

Itochu Price Performance

Shares of ITOCY traded up $0.18 during trading hours on Thursday, hitting $14.95. 77,916 shares of the company were exchanged, compared to its average volume of 432,954. The company has a market cap of $118.47 billion, a price-to-earnings ratio of 16.08 and a beta of 0.67. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. Itochu has a fifty-two week low of $10.91 and a fifty-two week high of $15.44. The firm’s fifty day moving average is $14.27 and its 200 day moving average is $13.02.

Analyst Upgrades and Downgrades

Separately, Zacks Research downgraded Itochu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Itochu presently has an average rating of “Buy”.

About Itochu

ITOCHU Corporation is a Japan-based general trading company, or sogo shosha, that develops and manages businesses across multiple industries. Its activities include the trading, distribution, investment and business development of products and services in areas such as textiles, food, metals and minerals, energy and chemicals, machinery, general products, real estate, information and communications technology, and finance.

The company serves customers and business partners through a global network spanning Japan and international markets.