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

Sumitomo Corp. (OTCMKTS:SSUMY)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $38.10, but opened at $40.99. Sumitomo shares last traded at $40.87, with a volume of 5,690 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Sumitomo from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy”.

Sumitomo Stock Performance

The stock has a market capitalization of $49.61 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 1.50 and a beta of 0.47. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.57 and a quick ratio of 1.06. The stock has a 50-day moving average of $36.35 and a 200 day moving average of $31.62.

Sumitomo (OTCMKTS:SSUMY) last issued its earnings results on Wednesday, February 4th. The conglomerate reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.20). The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.72 billion. Sumitomo had a net margin of 7.56% and a return on equity of 11.00%. On average, analysts expect that Sumitomo Corp. 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.