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

Sumitomo Electric Industries (OTCMKTS:SMTOY) posted its quarterly earnings data on Friday. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08, Zacks reports.

Sumitomo Electric Industries Stock Down 7.5%

OTCMKTS SMTOY traded down $0.44 during trading hours on Friday, hitting $5.45. 645,784 shares of the company were exchanged, compared to its average volume of 720,116. The firm has a market cap of $34.62 billion, a price-to-earnings ratio of 12.98 and a beta of 1.06. The company has a 50 day moving average of $6.80 and a two-hundred day moving average of $39.92. Sumitomo Electric Industries has a 52-week low of $4.50 and a 52-week high of $11.14.

About Sumitomo Electric Industries

Sumitomo Electric Industries, Ltd. is a Japan-based diversified manufacturer that develops and supplies products used in the automotive, information and communications, electronics, energy, and industrial materials sectors. The company traces its origins to 1897, when it began manufacturing copper wire, and has expanded into a global technology and materials business.

Its automotive products include wiring harnesses, connectors, and related electrical components. In the information and communications field, Sumitomo Electric provides optical fiber, fiber-optic cables, network equipment, and other technologies used in telecommunications infrastructure.