Sumitomo Electric Industries (SMTOY) to Announce Earnings on Friday

Sumitomo Electric Industries (OTCMKTS:SMTOY) is projected to post its results after the market closes on Friday, July 31st. Analysts expect the company to announce earnings of $0.0671 per share and revenue of $7.5673 billion for the quarter.

Sumitomo Electric Industries Stock Down 1.4%

Sumitomo Electric Industries stock opened at $6.23 on Thursday. The stock has a market cap of $39.57 billion, a P/E ratio of 15.97 and a beta of 1.01. Sumitomo Electric Industries has a twelve month low of $3.01 and a twelve month high of $11.14. The company’s 50-day moving average price is $49.03 and its two-hundred day moving average price is $55.65.

Wall Street Analysts Forecast Growth

Separately, Nomura upgraded Sumitomo Electric Industries to a “strong-buy” rating in a research report on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, Sumitomo Electric Industries currently has an average rating of “Strong Buy”.

Sumitomo Electric Industries Company Profile

Sumitomo Electric Industries, Ltd. is a diversified Japanese industrial manufacturing company renowned for its expertise in electric wire and cable technologies. The company operates through multiple business segments, including power and communications systems, automotive and electronics materials, and industrial materials. Its product portfolio spans high-performance power cables, optical fibers, wiring harnesses, and various electronic components designed to serve the needs of energy utilities, telecommunications carriers, automotive manufacturers and industrial clients worldwide.

In the power and communications segment, Sumitomo Electric produces underground and submarine power cables, cable accessories and optical fiber cables for high-speed data transmission.