Sumitomo Corporation’s (TSE:8053) Price Is Right But Growth Is Lacking After Shares Rocket 27%
Sumitomo Corporation (TSE:8053) shares have had a really impressive month, gaining 27% after a shaky period beforehand. Unfortunately, the gains of the last month did little to right the losses of the last year with the stock still down 13% over that time.
Although its price has surged higher, Sumitomo’s price-to-earnings (or “P/E”) ratio of 7.8x might still make it look like a buy right now compared to the market in Japan, where around half of the companies have P/E ratios above 13x and even P/E’s above 21x are quite common. Although, it’s not wise to just take the P/E at face value as there may be an explanation why it’s limited.
We’ve discovered 2 warning signs about Sumitomo. View them for free.
Sumitomo certainly has…
