Sumitomo (OTCMKTS:SSUMY) Shares Gap Up – Still a Buy?

Sumitomo Corp. (OTCMKTS:SSUMY)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $10.65, but opened at $11.14. Sumitomo shares last traded at $11.1080, with a volume of 5,013 shares.

Sumitomo Stock Performance

The stock has a 50 day simple moving average of $20.21 and a 200 day simple moving average of $33.34. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The stock has a market cap of $53.42 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 1.75 and a beta of 0.58.

Sumitomo (OTCMKTS:SSUMY) last announced its quarterly earnings data 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). The company had revenue of $12.24 billion during the quarter, compared to analyst estimates of $11.50 billion. Sumitomo had a net margin of 8.23% and a return on equity of 12.39%. On average, equities analysts expect that Sumitomo Corp. will post 0.83 earnings per share for the current 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.