Sumitomo (OTCMKTS:SSUMY) Lowered to Strong Sell Rating by Zacks Research

Sumitomo (OTCMKTS:SSUMY) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Sumitomo Trading Up 0.2%

OTCMKTS SSUMY opened at $40.91 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.57. Sumitomo has a one year low of $19.18 and a one year high of $42.12. The company’s 50 day moving average price is $35.04 and its 200 day moving average price is $30.86. The firm has a market capitalization of $49.22 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.58 and a beta of 0.47.

Sumitomo (OTCMKTS:SSUMY) last announced its quarterly earnings results on Friday, October 31st. The conglomerate reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.13). Sumitomo had a return on equity of 12.31% and a net margin of 8.34%.The business had revenue of $11.35 billion for the quarter, compared to analysts’ expectations of $11.60 billion. On average, sell-side analysts predict that Sumitomo will post 2.82 EPS for the current year.

About Sumitomo

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.