Toshiba Corp. (TSE:6502) fell on the Tokyo Stock Exchange today. The stock fell 16.98%, down 52.90 yen (45 cents) per share, from the previous close of 311.60 yen per share to 258.70 yen.
This is the stock's third tumble in a row and the stock has lost more than 40% over the last three trading days.
On Dec. 27, the stock lost 11.6% or 51.50 yen per share, with a volume of 214,987,000 shares traded on the Japanese market.
Yesterday, the Japanese global conglomerate headquartered in Tokyo toppled 20%, from 391.60 yen per share to 311.60 yen per share, following the announcement that cost overruns at U.S. nuclear reactors could possibly force a write-down of several billion dollars.
Toshiba announced that the value of the acquisition made by Westinghouse Electric, a Toshiba subsidiary, for a project concerning the next-generation nuclear power plants has not been ascertained yet.
Toshiba Corp. is traded on over-the-counter markets under the ticker ( TOSYY ), where it closed at $14.99, down $4.42 per share or -22.75% from the previous trading day, with a volume of 118,521 shares traded.
As of today, eight analysts out of a total of 15 suggest to buy shares of Toshiba Corp. and the analysts' median recommendation is overweight.
Based on the estimate of 16 analysts, Toshiba Corp. will close the current fiscal year generating an EPS of 39.07 yen and range between a low estimate of 19.08 yen per share and a high estimate of 48.80 yen per share.
Disclosure: I have no position in Toshiba Corp.
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