Sumitomo Electric Industries (OTCMKTS:SMTOY) Announces Earnings Results

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

Sumitomo Electric Industries Stock Down 7.5%

Shares of OTCMKTS SMTOY traded down $0.44 during midday trading on Friday, hitting $5.45. The stock had a trading volume of 645,784 shares, compared to its average volume of 720,036. The company has a market cap of $34.62 billion, a P/E ratio of 12.98 and a beta of 1.06. Sumitomo Electric Industries has a 52 week low of $4.50 and a 52 week high of $11.14. The business’s 50 day moving average is $6.80 and its 200-day moving average is $39.92.

Sumitomo Electric Industries Company Profile

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.