Sumitomo (OTCMKTS:SSUMY) Stock Passes Above 50-Day Moving Average – Here’s Why

Sumitomo Co. (OTCMKTS:SSUMY)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $21.50 and traded as high as $22.08. Sumitomo shares last traded at $22.07, with a volume of 28,581 shares changing hands.

Sumitomo Price Performance

The stock has a fifty day moving average of $21.50 and a 200-day moving average of $22.00. The firm has a market capitalization of $26.73 billion, a P/E ratio of 11.09, a PEG ratio of 0.71 and a beta of 0.71. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.55.

Sumitomo (OTCMKTS:SSUMY) last announced its earnings results on Tuesday, February 4th. The conglomerate reported $0.89 earnings per share for the quarter. Sumitomo had a net margin of 5.42% and a return on equity of 7.73%. Equities analysts predict that Sumitomo Co. will post 2.82 EPS for the current fiscal year.

Sumitomo Company Profile

Sumitomo Corporation engages in general trading business worldwide. It operates through six segments: Metal Products; Transportation & Construction Systems; Infrastructure; Media & Digital; Living Related & Real Estate; and Mineral Resources, Energy, Chemical & Electronics. The company provides steel sheets and tubular products; and manufactures, leases, sells, services, and finances ships, aircrafts, motor vehicles, construction equipment, and components and parts.