Will It Continue to Soar?
Toyota Motor Corporation (TM) shares rallied 8.8% in the last trading session to close at $197.36. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock’s 6.9% gain over the past four weeks.
Toyota’s shares jumped after Nikkei reported that the company plans to raise its return on equity target to 20%, nearly doubling market expectations of 11% for the fiscal year ending in March.
This company is expected to post quarterly earnings of $4.36 per share in its upcoming report, which represents a year-over-year change of -36%. Revenues are expected to be $78.36 billion, down 3.9% from the year-ago quarter.
While earnings and revenue growth…
