Sumitomo Electric Industries (OTCMKTS:SMTOY) Releases Quarterly Earnings Results, Hits Estimates

Sumitomo Electric Industries (OTCMKTS:SMTOY) issued its quarterly earnings results on Friday. The company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07, Zacks reports.

Sumitomo Electric Industries Trading Up 1.1%

SMTOY traded up $0.08 on Friday, reaching $7.23. The company had a trading volume of 792,302 shares, compared to its average volume of 713,397. The company has a market capitalization of $45.92 billion, a P/E ratio of 18.54 and a beta of 1.01. The company has a fifty day moving average of $47.76 and a 200-day moving average of $55.41. Sumitomo Electric Industries has a one year low of $3.01 and a one year high of $11.14.

About Sumitomo Electric Industries

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.