Sumitomo Electric Industries (SMTOY) Expected to Release Quarterly Earnings on Friday

Sumitomo Electric Industries (OTCMKTS:SMTOY) will likely be issuing its resultson Friday, July 31st. Analysts expect Sumitomo Electric Industries to announce earnings of $0.0671 per share and revenue of $7.5673 billion for the quarter.

Sumitomo Electric Industries Stock Performance

SMTOY stock opened at $7.45 on Friday. The firm has a 50 day moving average of $54.03 and a 200-day moving average of $56.65. The company has a market cap of $47.32 billion, a price-to-earnings ratio of 19.10 and a beta of 1.01. Sumitomo Electric Industries has a 12-month low of $2.92 and a 12-month high of $11.14.

Analyst Ratings Changes

Separately, Nomura raised Sumitomo Electric Industries to a “strong-buy” rating in a research note on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, Sumitomo Electric Industries has an average rating of “Strong Buy”.

About Sumitomo Electric Industries

Sumitomo Electric Industries, Ltd. is a diversified Japanese industrial manufacturing company renowned for its expertise in electric wire and cable technologies. The company operates through multiple business segments, including power and communications systems, automotive and electronics materials, and industrial materials. Its product portfolio spans high-performance power cables, optical fibers, wiring harnesses, and various electronic components designed to serve the needs of energy utilities, telecommunications carriers, automotive manufacturers and industrial clients worldwide.

In the power and communications segment, Sumitomo Electric produces underground and submarine power cables, cable accessories and optical fiber cables for high-speed data transmission.