Itochu (OTCMKTS:ITOCY) Announces Earnings Results, Beats Estimates By $0.03 EPS

Itochu (OTCMKTS:ITOCY) released its quarterly earnings results on Wednesday. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03, Zacks reports.

Itochu Stock Performance

ITOCY traded up $0.35 during trading hours on Wednesday, hitting $14.73. The stock had a trading volume of 172,207 shares, compared to its average volume of 434,256. The company’s fifty day simple moving average is $14.25 and its 200 day simple moving average is $13.01. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. Itochu has a 1 year low of $10.91 and a 1 year high of $15.44. The stock has a market cap of $116.74 billion, a PE ratio of 15.84 and a beta of 0.67.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Itochu from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Three analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to data from MarketBeat, Itochu currently has an average rating of “Strong Buy”.

Itochu Company Profile

ITOCHU Corporation is a Japan-based general trading company, or sogo shosha, that develops and manages businesses across multiple industries. Its activities include the trading, distribution, investment and business development of products and services in areas such as textiles, food, metals and minerals, energy and chemicals, machinery, general products, real estate, information and communications technology, and finance.

The company serves customers and business partners through a global network spanning Japan and international markets.