Sumitomo (OTCMKTS:SSUMY) Shares Gap Down – Here’s What Happened

Shares of Sumitomo Corp. (OTCMKTS:SSUMY) gapped down prior to trading 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 trading hands.

Sumitomo Trading Down 0.4%

The company has a market cap of $46.16 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.50 and a beta of 0.58. The business’s 50-day moving average price is $41.63 and its 200 day moving average price is $39.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.38.

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