Sumitomo (OTCMKTS:SSUMY) Hits New 52-Week High After Analyst Upgrade

Shares of Sumitomo Corp. (OTCMKTS:SSUMY) reached a new 52-week high during mid-day trading on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $12.42 and last traded at $12.03, with a volume of 8149 shares. The stock had previously closed at $11.71.

Sumitomo Stock Down 0.8%

The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 0.94. The firm has a 50-day moving average of $14.09 and a 200 day moving average of $30.95. The stock has a market capitalization of $56.89 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 0.75 and a beta of 0.58.

Sumitomo (OTCMKTS:SSUMY) last posted its quarterly earnings results on Friday, July 31st. The conglomerate reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.58). Sumitomo had a return on equity of 12.71% and a net margin of 8.23%.The company had revenue of $12.24 billion for the quarter, compared to analyst estimates of $11.50 billion. As a group, sell-side analysts forecast that Sumitomo Corp. will post 2.1 earnings per share for the current fiscal year.

Sumitomo Company Profile

Sumitomo Corporation is a diversified Japanese trading and business investment company. It develops and manages businesses across a broad range of industries, including metal products, transportation and infrastructure, construction systems, mineral resources and energy, chemical products, lifestyle-related products and services, and media and digital services.

The company connects manufacturers, suppliers, customers and financial partners through international trading, supply-chain management, project development and business investment.