Sumitomo (OTCMKTS:SSUMY) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Sumitomo (OTCMKTS:SSUMY) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks reports.

Sumitomo Stock Up 2.4%

Shares of SSUMY opened at $11.99 on Monday. The stock has a 50 day moving average price of $14.63 and a 200 day moving average price of $31.16. Sumitomo has a one year low of $7.12 and a one year high of $12.42. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.94 and a current ratio of 1.34. The stock has a market capitalization of $57.34 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.73 and a beta of 0.58.

Sumitomo (OTCMKTS:SSUMY) last announced its earnings results on Friday, July 31st. The conglomerate reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.58). Sumitomo had a return on equity of 12.71% and a net margin of 8.23%.The business had revenue of $12.24 billion for the quarter, compared to analyst estimates of $11.50 billion. Equities research analysts forecast that Sumitomo will post 2.1 earnings per share for the current fiscal year.

Sumitomo Company Profile

Sumitomo Corporation is a diversified Japanese trading and business investment company. It develops and manages businesses across a broad range of industries, including metal products, transportation and infrastructure, construction systems, mineral resources and energy, chemical products, lifestyle-related products and services, and media and digital services.

The company connects manufacturers, suppliers, customers and financial partners through international trading, supply-chain management, project development and business investment.