Sumitomo (OTCMKTS:SSUMY) Reaches New 12-Month High – Here’s Why

Sumitomo Corp. (OTCMKTS:SSUMY)’s stock price reached a new 52-week high on Monday . The company traded as high as $35.89 and last traded at $35.89, with a volume of 545 shares trading hands. The stock had previously closed at $34.91.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Sumitomo from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

Sumitomo Trading Up 1.5%

The stock’s 50-day simple moving average is $31.71 and its 200-day simple moving average is $28.91. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.57. The firm has a market capitalization of $42.59 billion, a PE ratio of 10.37, a P/E/G ratio of 1.40 and a beta of 0.49.

Sumitomo (OTCMKTS:SSUMY) last announced its quarterly earnings results on Friday, October 31st. The conglomerate reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.13). Sumitomo had a net margin of 8.34% and a return on equity of 12.31%. The company had revenue of $11.35 billion for the quarter, compared to analysts’ expectations of $11.60 billion. As a group, sell-side analysts expect that Sumitomo Corp. will post 2.82 EPS for the current fiscal year.

Sumitomo Company Profile

Sumitomo Corporation (OTCMKTS: SSUMY) is a global integrated trading and investment company headquartered in Japan. As one of the country’s major sogo shosha (general trading firms), Sumitomo operates a diversified business portfolio that spans trading, project development, equity investments and provision of services to industrial and consumer markets. The company acts as a commercial intermediary and strategic investor, linking producers, manufacturers and end users across international supply chains.

Sumitomo’s business activities cover a wide range of sectors, including metal products and mining, transportation and construction systems, infrastructure and real estate, energy and chemical products, electronics and digital solutions, and consumer goods and food.