Sumitomo Chemical Company, Limited (OTCMKTS:SOMMY) Forecasted to Post FY2021 Earnings of $0.96 Per Share

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Sumitomo Chemical Company, Limited (OTCMKTS:SOMMY) – Research analysts at Jefferies Financial Group decreased their FY2021 earnings estimates for shares of Sumitomo Chemical in a research report issued on Tuesday, April 6th. Jefferies Financial Group analyst Y. Azuma now anticipates that the company will post earnings of $0.96 per share for the year, down from their previous forecast of $2.10. Jefferies Financial Group has a “Hold” rating on the stock. Jefferies Financial Group also issued estimates for Sumitomo Chemical’s FY2022 earnings at $3.20 EPS.

Separately, Zacks Investment Research downgraded Sumitomo Chemical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 24th.

SOMMY stock opened at $25.78 on Thursday. The company has a market cap of $8.53 billion, a P/E ratio of 29.63 and a beta of 1.14. Sumitomo Chemical has a 1 year low of $13.17 and a 1 year high of $27.27. The stock’s fifty day moving average price is $25.80 and its 200-day moving average price is $21.08.

Sumitomo Chemical (OTCMKTS:SOMMY) last released its quarterly earnings results on Friday, January 29th. The company reported $0.68 earnings per share (EPS) for the quarter. The firm had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $4.91 billion.

Sumitomo Chemical Company Profile

Sumitomo Chemical Company, Limited engages in the petrochemicals and plastics, energy and functional materials, IT-related chemicals, health and crop sciences, pharmaceuticals, and other businesses worldwide. Its Petrochemicals & Plastics segment offers synthetic resins, such as polyethylene, polypropylene, and polymethyl methacrylate resins; raw materials for synthetic fibers; and various industrial chemicals.

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Earnings History and Estimates for Sumitomo Chemical (OTCMKTS:SOMMY)

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