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Tuesday, October 20, 2020

The Forecast Just Changed on Sumitomo Mitsui Financial Group Inc. (NYSE:SMFG)

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Sumitomo Mitsui Financial Group Inc. (SMFG) shares are trading at lower $5.62, while the current analyst price target stands at $9.26.

To add more color to this target, the company’s high over the last year is $7.56 and the low is $4.49. Over the last 52 weeks, SMFG is down -19.14% while the S&P 500 is up 16.41%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, SMFG reported a profit of $2.96 billion. Sumitomo Mitsui Financial Group Inc. also saw revenues increase to $4.64 billion. In addition, SMFG has free cash flow of $0.0 as of 06-2020.

SMFG booked profit margins of 24.60%, its Return on Equity (ROE) is 5.30%, and its Return on Assets is 0.30%. All told, it is clear that, SMFG needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. SMFG has a short ratio of 2.46 and outstanding shares of 6.85B.

Company Outlook

SMFG has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.27 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.79. Investors should also keep an eye on sector updates as SMFG has historically followed its peers on positive news.

All told, Sumitomo Mitsui Financial Group Inc. SMFG has strung together solid data and demonstrated underlying fundamentals. At its current valuation, SMFG represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Sumitomo Mitsui Financial Group Inc. SMFG is now commanding a market cap of 38.86B and a float of 6.25B. SMFG is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of SMFG stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in SMFG, either long or short, and we have not been compensated for this article.

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