Sumitomo (OTCMKTS:SSUMY) Sets New 1-Year High – Still a Buy?

Shares of Sumitomo Corp. (OTCMKTS:SSUMY) reached a new 52-week high on Wednesday . The stock traded as high as $42.1199 and last traded at $40.8415, with a volume of 109153 shares trading hands. The stock had previously closed at $39.23.

Sumitomo Stock Up 4.1%

The business’s 50 day moving average is $34.83 and its 200 day moving average is $30.78. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.50. The company has a market cap of $49.14 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.63 and a beta of 0.47.

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 analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $11.60 billion. As a group, equities analysts anticipate that Sumitomo Corp. will post 2.82 earnings per share for the current fiscal year.

About Sumitomo

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.