Sumitomo Electric Industries (SMTOY) Expected to Announce Earnings on Tuesday

Sumitomo Electric Industries (OTCMKTS:SMTOY) is expected to post its resultson Tuesday, May 12th. Analysts expect Sumitomo Electric Industries to post earnings of $1.14 per share and revenue of $8.1879 billion for the quarter.

Sumitomo Electric Industries Trading Up 2.0%

SMTOY traded up $1.30 on Tuesday, reaching $64.90. The stock had a trading volume of 9,135 shares, compared to its average volume of 100,922. Sumitomo Electric Industries has a fifty-two week low of $16.26 and a fifty-two week high of $72.29. The firm has a 50-day moving average of $63.13 and a 200-day moving average of $49.23. The company has a market capitalization of $50.62 billion, a price-to-earnings ratio of 29.63 and a beta of 0.97.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SMTOY shares. Jefferies Financial Group upgraded Sumitomo Electric Industries from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 4th. Nomura upgraded Sumitomo Electric Industries to a “strong-buy” rating in a research report on Wednesday, April 1st. Three research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Strong Buy”.

Sumitomo Electric Industries Company Profile

Sumitomo Electric Industries, Ltd. is a diversified Japanese industrial manufacturing company renowned for its expertise in electric wire and cable technologies. The company operates through multiple business segments, including power and communications systems, automotive and electronics materials, and industrial materials. Its product portfolio spans high-performance power cables, optical fibers, wiring harnesses, and various electronic components designed to serve the needs of energy utilities, telecommunications carriers, automotive manufacturers and industrial clients worldwide.

In the power and communications segment, Sumitomo Electric produces underground and submarine power cables, cable accessories and optical fiber cables for high-speed data transmission.