Zacks Research Upgrades Sumitomo (OTCMKTS:SSUMY) to “Strong-Buy”

Sumitomo (OTCMKTS:SSUMY) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday, Zacks reports.

Sumitomo Price Performance

Shares of Sumitomo stock opened at $11.99 on Monday. The stock has a market cap of $57.34 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 0.73 and a beta of 0.58. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.94 and a current ratio of 1.34. The stock has a 50 day moving average price of $14.63 and a 200-day moving average price of $31.16. Sumitomo has a one year low of $7.12 and a one year high of $12.42.

Sumitomo (OTCMKTS:SSUMY) last released 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). The company had revenue of $12.24 billion for the quarter, compared to analysts’ expectations of $11.50 billion. Sumitomo had a net margin of 8.23% and a return on equity of 12.71%. Equities analysts expect that Sumitomo will post 2.1 EPS for the current year.

About Sumitomo

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.