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Toyota (TM) to Gain From Cost-Cut Initiatives, Global Sales
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On Mar 21, we issued an updated research report on Toyota Motor Corporation (TM - Free Report) .
In the third quarter of fiscal 2018, the company reported a 54% year-over-year rise in its operating income to ¥673.6 billion ($5.96 billion). Quarterly revenues rose 7.4% to ¥7.61 trillion ($67.3 billion), beating the Zacks Consensus Estimate of $65.11 billion. Further, it has raised its outlook for the current fiscal.
For fiscal 2018, Toyota expects net revenues to be roughly ¥29 trillion, which reflects a 5.1% gain from the year-ago period. It has raised the guidance of its operating income to ¥2.2 trillion in comparison with the previous forecast of ¥2 trillion, a 10.3% increase from fiscal 2017. This hike in yearly estimations is majorly on the expectation of an uptrend in worldwide sales and cost-reduction efforts undertaken by Toyota.
Also, like its peers, the company has been ramping up its electric vehicle (EV) operations. In December 2017, Toyota announced its aim to sell 5.5 million of electrified vehicles by 2030. Additionally, by 2025, the company aims to unveil either all electrified Toyota and Lexus models or have an electrified option in the line-up.
Moreover, it is investing approximately $3 billion to develop software for self-driving vehicles and will also set up a new Tokyo-based company for the same purpose.
The company’s stock has seen the Zacks Consensus Estimate for annual earnings being revised 11.8% upward over the last 30 days.
Price Performance
In the last six months, shares of Toyota outperformed the industry it belongs to. During the period, the company’s stock gained 6.9% in comparison with the industry’s rise of 3.9%.
Spartan Motors has expected long-term growth rate of 15%. Over a year, shares of the company declined 144.3%.
Standard Motor has expected long-term growth rate of 6%. Shares of the company gained 1.5% in the last six months.
Gentex has expected long-term growth rate of 9.7%. In the last six months, shares of the company gained 20.2%.
Can Hackers Put Money INTO Your Portfolio?
Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
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Toyota (TM) to Gain From Cost-Cut Initiatives, Global Sales
On Mar 21, we issued an updated research report on Toyota Motor Corporation (TM - Free Report) .
In the third quarter of fiscal 2018, the company reported a 54% year-over-year rise in its operating income to ¥673.6 billion ($5.96 billion). Quarterly revenues rose 7.4% to ¥7.61 trillion ($67.3 billion), beating the Zacks Consensus Estimate of $65.11 billion. Further, it has raised its outlook for the current fiscal.
For fiscal 2018, Toyota expects net revenues to be roughly ¥29 trillion, which reflects a 5.1% gain from the year-ago period. It has raised the guidance of its operating income to ¥2.2 trillion in comparison with the previous forecast of ¥2 trillion, a 10.3% increase from fiscal 2017. This hike in yearly estimations is majorly on the expectation of an uptrend in worldwide sales and cost-reduction efforts undertaken by Toyota.
Toyota Motor Corporation Price and Consensus
Toyota Motor Corporation Price and Consensus | Toyota Motor Corporation Quote
Also, like its peers, the company has been ramping up its electric vehicle (EV) operations. In December 2017, Toyota announced its aim to sell 5.5 million of electrified vehicles by 2030. Additionally, by 2025, the company aims to unveil either all electrified Toyota and Lexus models or have an electrified option in the line-up.
Moreover, it is investing approximately $3 billion to develop software for self-driving vehicles and will also set up a new Tokyo-based company for the same purpose.
The company’s stock has seen the Zacks Consensus Estimate for annual earnings being revised 11.8% upward over the last 30 days.
Price Performance
In the last six months, shares of Toyota outperformed the industry it belongs to. During the period, the company’s stock gained 6.9% in comparison with the industry’s rise of 3.9%.
Zacks Rank & Other Key Picks
Toyota sports a Zacks Rank #1 (Strong Buy). Other top-ranked stocks in the auto space are Spartan Motors, Inc. , Standard Motor Products, Inc. (SMP - Free Report) and Gentex Corporation (GNTX - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Spartan Motors has expected long-term growth rate of 15%. Over a year, shares of the company declined 144.3%.
Standard Motor has expected long-term growth rate of 6%. Shares of the company gained 1.5% in the last six months.
Gentex has expected long-term growth rate of 9.7%. In the last six months, shares of the company gained 20.2%.
Can Hackers Put Money INTO Your Portfolio?
Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
Download the new report now>>