Sumitomo (OTCMKTS:SSUMY) Upgraded to “Strong-Buy” at Zacks Research

Sumitomo (OTCMKTS:SSUMY) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Sumitomo Stock Down 1.5%

Shares of OTCMKTS SSUMY opened at $28.92 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.07 and a current ratio of 1.59. Sumitomo has a 52 week low of $19.18 and a 52 week high of $30.00. The stock has a market capitalization of $35.03 billion, a P/E ratio of 8.58, a PEG ratio of 1.87 and a beta of 0.58. The stock’s fifty day moving average is $28.07 and its 200 day moving average is $25.76.

Sumitomo (OTCMKTS:SSUMY) last released its earnings results on Thursday, July 31st. The conglomerate reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. Sumitomo had a return on equity of 12.49% and a net margin of 8.31%.The firm had revenue of $12 billion for the quarter, compared to analysts’ expectations of $12.66 billion. Sell-side analysts forecast that Sumitomo will post 2.82 earnings per share for the current fiscal 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.