Sumitomo (OTCMKTS:SSUMY) Shares Gap Up – Time to Buy?

Sumitomo Corp. (OTCMKTS:SSUMY)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $39.36, but opened at $41.31. Sumitomo shares last traded at $39.72, with a volume of 1,124 shares changing hands.

Sumitomo Trading Down 1.0%

The firm has a market cap of $47.08 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.51 and a beta of 0.58. The company has a 50-day simple moving average of $41.91 and a 200 day simple moving average of $39.53. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

Sumitomo (OTCMKTS:SSUMY) last posted its earnings results on Friday, May 1st. The conglomerate reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.12. Sumitomo had a net margin of 8.19% and a return on equity of 12.21%. The firm had revenue of $12.48 billion during the quarter, compared to analyst estimates of $14.01 billion. As a group, sell-side analysts forecast that Sumitomo Corp. will post 3.41 earnings per share 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.