Toyota Motor Corp (NYSE: TM) stock lost $1.73 of its weekly trading prices; however, TM stock rose around 0.54% in the July 12, 2023 trading session. It opened trading at $159.47, lowering to $159.12, hitting a high of $160.31, and closed trading at $159.27 with an intraday trading volume of 248.296K.
In the 52-week time frame, TM stock traded highest at $169.07, and it traded lowest at $130.07. The annual price target of TM stock in 2023 is $176.25, around 10.66% less than the current trading prices.
In June 2023, TM stock faced rejection from a 52-week high at $169; however, it reflected a golden crossover and showcased an uptrend. Toyota Motor stock has been consolidating for the past 8 months from $139 to $150.
Most recently, it showed a massive breakout, and prices hit a fresh 52-week high but failed to sustain the higher level for the long term. The sudden increase in buying volume indicates that some genuine investors might have injected vast amounts of capital into TM stock.
TM stock sustains above $150 and prices are expected to bounce back in coming sessions. After analyzing the technical aspects of Toyota Motor stock, it is noted that the next phase might trigger if buyers break the $167 hurdle.
The immediate support of TM stock is $150, and it is believed that if prices succeed in breaking this, it might trade at $167. If it fails to break the support, then the prices might fall below $150 and might trade around $140.
Toyota Motor (TM) Earnings and Revenue
As of now, Toyota Motor has not released its Q1 2023 earnings but as per relevant data, earnings might get released on August 1, 2023. However in the financial year 2022, Toyota Motor generated $274.17 Billion in revenue including $18.09 Billion net income and a profit margin of 6.60%.
The estimated revenue for 2022 was $274.60 and the reported income was 0.65% greater than the reported income. The annual EPS of Toyota Motor slipped over 1.61% compared to the estimated figures.
TradingView, a connecting platform for traders, states that over 1.357 Billion TM shares are free floating and the remaining 2.713K are closely held either by financial backers of the company or the board of members.
Toyota Motor’s revenue-to-profit conversion constitutes 17% of gross profit, 13% of earnings before interest, taxes, depreciation, and amortization (EBITDA), 7% of earnings before interest and taxes (EBIT), and the remaining 7% of net income.
In 2022, Toyota Motor Corporation generated 90.91% of its revenue from the automobile sector and the remaining from finance and others. It serves consumers in Asia, North America, Japan, Europe, and many other regions across the globe.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/13/tm-stock-lost-1-73-buyers-shielding-the-volume-seemingly/