Sumitomo (OTCMKTS:SSUMY) Sees Large Volume Increase – What’s Next?

Sumitomo Corp. (OTCMKTS:SSUMY) saw unusually-strong trading volume on Friday . Approximately 130,740 shares traded hands during mid-day trading, an increase of 45% from the previous session’s volume of 90,248 shares.The stock last traded at $39.83 and had previously closed at $39.35.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Sumitomo from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, Sumitomo currently has a consensus rating of “Strong Buy”.

Sumitomo Stock Up 1.2%

The firm has a market capitalization of $48.23 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.53 and a beta of 0.47. The stock has a fifty day moving average price of $33.43 and a two-hundred day moving average price of $29.93. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.06 and a current ratio of 1.57.

Sumitomo (OTCMKTS:SSUMY) last announced its quarterly earnings data on Friday, October 31st. The conglomerate reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.13). The firm had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.60 billion. Sumitomo had a return on equity of 12.31% and a net margin of 8.34%. Research analysts forecast that Sumitomo Corp. will post 2.82 EPS for the current year.

Sumitomo Company Profile

Sumitomo Corporation (OTCMKTS: SSUMY) is a global integrated trading and investment company headquartered in Japan. As one of the country’s major sogo shosha (general trading firms), Sumitomo operates a diversified business portfolio that spans trading, project development, equity investments and provision of services to industrial and consumer markets. The company acts as a commercial intermediary and strategic investor, linking producers, manufacturers and end users across international supply chains.

Sumitomo’s business activities cover a wide range of sectors, including metal products and mining, transportation and construction systems, infrastructure and real estate, energy and chemical products, electronics and digital solutions, and consumer goods and food.