Itochu (OTCMKTS:ITOCY) Posts Quarterly Earnings Results, Meets Expectations

Itochu (OTCMKTS:ITOCY) issued its quarterly earnings results on Friday. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18, Zacks reports.

Itochu Price Performance

Shares of Itochu stock traded up $0.09 during midday trading on Friday, hitting $12.50. 317,216 shares of the company traded hands, compared to its average volume of 470,082. The stock has a market cap of $99.06 billion, a price-to-earnings ratio of 13.30 and a beta of 0.70. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.96 and a current ratio of 1.30. The firm’s fifty day moving average price is $12.94 and its 200-day moving average price is $58.13. Itochu has a 12 month low of $9.79 and a 12 month high of $15.10.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Itochu stock. Aristotle Capital Management LLC purchased a new stake in Itochu Corp. (OTCMKTS:ITOCY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,762 shares of the company’s stock, valued at approximately $1,487,000. Institutional investors and hedge funds own 0.08% of the company’s stock.

Analysts Set New Price Targets

ITOCY has been the topic of several analyst reports. Zacks Research raised Itochu to a “hold” rating in a report on Monday, January 12th. The Goldman Sachs Group assumed coverage on Itochu in a research note on Tuesday, January 6th. They issued a “buy” rating for the company. Nomura raised shares of Itochu to a “strong-buy” rating in a research report on Wednesday, February 25th. Finally, Daiwa Securities Group upgraded shares of Itochu to a “strong-buy” rating in a research note on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

About Itochu

Itochu Corporation is a major Japanese trading company (sogo shosha) that operates a diversified global business spanning trading, investment and services. The company traces its roots to the 19th century and has evolved from a textile trading firm into a broad-based commercial and investment group. Its American Depositary Receipts trade over the counter under the symbol ITOCY.

Itochu conducts commodity and product trading across a wide range of sectors including textiles and apparel, machinery, metals and minerals, energy and chemicals, food and consumer products, information and communications technology, and real estate.