Sumitomo (OTCMKTS:SSUMY) Releases Quarterly Earnings Results, Misses Expectations By $0.58 EPS

Sumitomo (OTCMKTS:SSUMY) announced its earnings results on Friday. The conglomerate reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.58), Zacks reports. Sumitomo had a net margin of 8.19% and a return on equity of 12.21%.

Sumitomo Stock Performance

Shares of SSUMY traded up $0.26 during mid-day trading on Friday, hitting $10.38. 244,468 shares of the company’s stock were exchanged, compared to its average volume of 383,581. Sumitomo has a fifty-two week low of $6.38 and a fifty-two week high of $12.21. The firm has a market capitalization of $49.62 billion, a P/E ratio of 12.54, a P/E/G ratio of 0.87 and a beta of 0.58. The business’s 50 day moving average is $31.60 and its two-hundred day moving average is $36.97. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

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.