In the latest trading session, Toyota Motor Corporation (TM) closed at $203.56, marking a +1.38% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.21% for the day. At the same time, the Dow added 1.35%, and the tech-heavy Nasdaq lost 0.26%.
Prior to today's trading, shares of the company had lost 3.14% lagged the Auto-Tires-Trucks sector's gain of 2.04% and the S&P 500's gain of 0.89%.
Investors will be eagerly watching for the performance of Toyota Motor Corporation in its upcoming earnings disclosure.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $18.26 per share and a revenue of $322.25 billion, indicating changes of -22.66% and +2.21%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Toyota Motor Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.3% higher. Toyota Motor Corporation presently features a Zacks Rank of #3 (Hold).
Investors should also note Toyota Motor Corporation's current valuation metrics, including its Forward P/E ratio of 11. For comparison, its industry has an average Forward P/E of 13.7, which means Toyota Motor Corporation is trading at a discount to the group.
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 205, positioning it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Toyota Motor Corporation (TM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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