Itochu (OTCMKTS:ITOCY) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Itochu (OTCMKTS:ITOCY) released its earnings results on Wednesday. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03, Zacks reports.

Itochu Stock Performance

ITOCY stock traded up $0.36 during midday trading on Wednesday, hitting $14.74. The company’s stock had a trading volume of 169,182 shares, compared to its average volume of 434,256. The stock’s 50-day moving average price is $14.25 and its 200 day moving average price is $13.01. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. Itochu has a 1 year low of $10.91 and a 1 year high of $15.44. The stock has a market cap of $116.81 billion, a price-to-earnings ratio of 15.85 and a beta of 0.67.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Itochu from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Three investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Strong Buy”.

About Itochu

ITOCHU Corporation is a Japan-based general trading company, or sogo shosha, that develops and manages businesses across multiple industries. Its activities include the trading, distribution, investment and business development of products and services in areas such as textiles, food, metals and minerals, energy and chemicals, machinery, general products, real estate, information and communications technology, and finance.

The company serves customers and business partners through a global network spanning Japan and international markets.