Sumitomo (OTCMKTS:SSUMY) Shares Gap Down – Should You Sell?

Sumitomo Corp. (OTCMKTS:SSUMY) shares gapped down before the market opened on Monday . The stock had previously closed at $9.69, but opened at $9.23. Sumitomo shares last traded at $9.67, with a volume of 35,550 shares changing hands.

Sumitomo Stock Up 1.0%

The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.68. The company has a fifty day moving average price of $40.40 and a 200-day moving average price of $39.13. The stock has a market capitalization of $46.42 billion, a P/E ratio of 11.73, a PEG ratio of 1.49 and a beta of 0.58.

Sumitomo (OTCMKTS:SSUMY) last announced its quarterly earnings results on Friday, May 1st. The conglomerate reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.12. The company had revenue of $12.48 billion during the quarter, compared to analyst estimates of $14.01 billion. Sumitomo had a return on equity of 12.21% and a net margin of 8.19%. As a group, research analysts forecast that Sumitomo Corp. will post 0.85 EPS for the current fiscal year.

About Sumitomo

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.