Sumitomo (OTCMKTS:SSUMY) Shares Gap Down – Here’s Why

Sumitomo Corp. (OTCMKTS:SSUMY) gapped down before the market opened on Monday . The stock had previously closed at $30.45, but opened at $29.44. Sumitomo shares last traded at $30.34, with a volume of 10,001 shares changing hands.

Analyst Ratings Changes

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

Sumitomo Price Performance

The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average price of $29.93 and a 200 day moving average price of $27.65. The stock has a market capitalization of $37.23 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 1.24 and a beta of 0.53.

Sumitomo (OTCMKTS:SSUMY) last issued its quarterly earnings data on Friday, October 31st. The conglomerate reported $0.73 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.13). The business had revenue of $11.35 billion during the quarter, compared to analyst estimates of $11.60 billion. Sumitomo had a net margin of 8.34% and a return on equity of 12.31%. As a group, equities research analysts expect that Sumitomo Corp. will post 2.82 earnings per share for the current year.

Sumitomo Company Profile

Sumitomo Corporation engages in general trading business worldwide. It operates through six segments: Metal Products; Transportation & Construction Systems; Infrastructure; Media & Digital; Living Related & Real Estate; and Mineral Resources, Energy, Chemical & Electronics. The company provides steel sheets and tubular products; and manufactures, leases, sells, services, and finances ships, aircrafts, motor vehicles, construction equipment, and components and parts.