Toyota Motor Corporation (TM) closed at $220.47 in the latest trading session, marking a -4.73% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 2.06%. Elsewhere, the Dow saw a downswing of 1.76%, while the tech-heavy Nasdaq depreciated by 2.39%.
Heading into today, shares of the company had gained 5.43% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 5.13% and the S&P 500's gain of 1.63%.
The upcoming earnings release of Toyota Motor Corporation will be of great interest to investors.
For the full year, the Zacks Consensus Estimates project earnings of $17.77 per share and a revenue of $322.5 billion, demonstrating changes of -24.74% and +2.29%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Toyota Motor Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.95% lower. Toyota Motor Corporation is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Toyota Motor Corporation is currently being traded at a Forward P/E ratio of 13.02. Its industry sports an average Forward P/E of 12.85, so one might conclude that Toyota Motor Corporation is trading at a premium comparatively.
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 216, this industry ranks in the bottom 12% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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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