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Toyota Motor Corporation (TM) Stock Sinks As Market Gains: Here's Why
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In the latest market close, Toyota Motor Corporation (TM - Free Report) reached $192.52, with a -1.4% movement compared to the previous day. This move lagged the S&P 500's daily gain of 1.11%. Meanwhile, the Dow gained 1.64%, and the Nasdaq, a tech-heavy index, added 1.03%.
The company's stock has dropped by 4.23% in the past month, falling short of the Auto-Tires-Trucks sector's gain of 5.19% and the S&P 500's loss of 1.16%.
Investors will be eagerly watching for the performance of Toyota Motor Corporation in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 1, 2024. It is anticipated that the company will report an EPS of $4.01, marking a 43.12% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $72.48 billion, indicating a 5.69% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $21.61 per share and revenue of $319.48 billion, which would represent changes of -14.75% and +2.37%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Toyota Motor Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. The Zacks Consensus EPS estimate has moved 2.08% lower within the past month. At present, Toyota Motor Corporation boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Toyota Motor Corporation is holding a Forward P/E ratio of 9.03. For comparison, its industry has an average Forward P/E of 6.53, which means Toyota Motor Corporation is trading at a premium to the group.
It's also important to note that TM currently trades at a PEG ratio of 0.34. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Automotive - Foreign industry had an average PEG ratio of 0.74.
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 31% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Toyota Motor Corporation (TM) Stock Sinks As Market Gains: Here's Why
In the latest market close, Toyota Motor Corporation (TM - Free Report) reached $192.52, with a -1.4% movement compared to the previous day. This move lagged the S&P 500's daily gain of 1.11%. Meanwhile, the Dow gained 1.64%, and the Nasdaq, a tech-heavy index, added 1.03%.
The company's stock has dropped by 4.23% in the past month, falling short of the Auto-Tires-Trucks sector's gain of 5.19% and the S&P 500's loss of 1.16%.
Investors will be eagerly watching for the performance of Toyota Motor Corporation in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 1, 2024. It is anticipated that the company will report an EPS of $4.01, marking a 43.12% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $72.48 billion, indicating a 5.69% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $21.61 per share and revenue of $319.48 billion, which would represent changes of -14.75% and +2.37%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Toyota Motor Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. The Zacks Consensus EPS estimate has moved 2.08% lower within the past month. At present, Toyota Motor Corporation boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Toyota Motor Corporation is holding a Forward P/E ratio of 9.03. For comparison, its industry has an average Forward P/E of 6.53, which means Toyota Motor Corporation is trading at a premium to the group.
It's also important to note that TM currently trades at a PEG ratio of 0.34. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Automotive - Foreign industry had an average PEG ratio of 0.74.
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 31% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.