Sumitomo (OTCMKTS:SSUMY) Sets New 52-Week Low – Here’s What Happened

Sumitomo Corp. (OTCMKTS:SSUMY)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $9.60 and last traded at $9.70, with a volume of 2266 shares trading hands. The stock had previously closed at $38.40.

Sumitomo Stock Up 0.4%

The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.38. The business has a 50 day simple moving average of $42.15 and a 200-day simple moving average of $39.66. The firm has a market capitalization of $11.65 billion, a price-to-earnings ratio of 2.95, a P/E/G ratio of 1.47 and a beta of 0.58.

Sumitomo (OTCMKTS:SSUMY) last announced its quarterly earnings results on Friday, May 1st. The conglomerate reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.12. Sumitomo had a net margin of 8.19% and a return on equity of 12.21%. The firm had revenue of $12.48 billion for the quarter, compared to analysts’ expectations of $14.01 billion. On average, equities analysts expect that Sumitomo Corp. will post 3.41 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.