Sumitomo (OTCMKTS:SSUMY) Stock Rating Upgraded by Nomura Securities

Sumitomo (OTCMKTS:SSUMY) was upgraded by equities researchers at Nomura Securities to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Sumitomo Stock Down 0.5%

OTCMKTS:SSUMY opened at $25.41 on Wednesday. The firm has a market capitalization of $30.77 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 0.67 and a beta of 0.65. The stock has a 50 day moving average of $23.93 and a 200-day moving average of $22.61. Sumitomo has a 52 week low of $19.00 and a 52 week high of $26.89. The company has a current ratio of 1.77, a quick ratio of 1.24 and a debt-to-equity ratio of 0.55.

Sumitomo (OTCMKTS:SSUMY) last posted its earnings results on Thursday, May 1st. The conglomerate reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. The company had revenue of $13.83 billion during the quarter, compared to analyst estimates of $11.78 billion. Sumitomo had a return on equity of 7.73% and a net margin of 5.42%. Analysts predict that Sumitomo will post 2.82 EPS for the current year.

About Sumitomo

Sumitomo Corporation engages in general trading business worldwide. It operates through six segments: Metal Products; Transportation & Construction Systems; Infrastructure; Media & Digital; Living Related & Real Estate; and Mineral Resources, Energy, Chemical & Electronics. The company provides steel sheets and tubular products; and manufactures, leases, sells, services, and finances ships, aircrafts, motor vehicles, construction equipment, and components and parts.