Sumitomo (OTCMKTS:SSUMY) Reaches New 1-Year High – Still a Buy?

Sumitomo Corp. (OTCMKTS:SSUMY) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $41.24 and last traded at $39.8730, with a volume of 38340 shares trading hands. The stock had previously closed at $39.86.

Analyst Ratings Changes

Separately, Zacks Research raised Sumitomo from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Sumitomo Price Performance

The business has a fifty day moving average of $34.46 and a two-hundred day moving average of $30.51. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.57. The firm has a market capitalization of $48.09 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.62 and a beta of 0.47.

Sumitomo (OTCMKTS:SSUMY) last released its quarterly earnings data on Friday, October 31st. The conglomerate reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.13). The company had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.60 billion. Sumitomo had a return on equity of 12.31% and a net margin of 8.34%. As a group, research analysts predict that Sumitomo Corp. will post 2.82 EPS 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.