Toyota Motor Predicts Big Uptick in Fiscal 2013 as Q4 Earnings Beat View (TM)

By Staff,

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Japanese auto maker Toyota Motor Corporation ( TM ) early Wednesday posted better-than-expected fiscal fourth quarter earnings results and offered an optimistic fiscal 2013 outlook.

The company reported fiscal fourth quarter earnings of 121.0 billion yen, up from 25.4 billion in the year-ago period. On average, Wall Street analysts expected a smaller profit of 112.9 billion yen for the quarter.

Sales rose 23% in the latest period to 5.703 trillion yen.

Looking ahead, TM said it expects full-year fiscal 2013 earnings to more than double to 760 billion yen, with sales rising 18.4% to 22 trillion yen.

Toyota shares rose 83 cents, or +1.1%, in premarket trading Wednesday.

The Bottom Line
Shares of Toyota Motor Corporation ( TM ) have a 1.32% dividend yield, based on last night's closing stock price of $78.17. The stock has technical support in the $73-$75 price area. If the shares can firm up, we see overhead resistance around the $83-$85 price levels.

Toyota Motor Corporation ( TM ) is not recommended at this time, holding a DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: TM

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