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Sumitomo Electric (TSE:5802) Stock Retreat Deepens As Profitability Improves
Sumitomo Electric Industries stock came into this earnings day on the back foot, with the share price retreating over the past week and month. Yet the latest numbers tell a more grounded story. The company reported first quarter basic earnings per share of ¥21.29 on revenue of ¥1,330,591m, and trailing 12 month earnings per share reached ¥128.48. The real tension for investors now sits between that earnings base and a market that has been paying a P/E of 17x, even as the stock trades well...