Jun 10, 2011
Toyota Motor (NYSE:TM) said today it expects its net profit to fall by almost a third this year, as production continues to be disrupted 3 months after the massive earthquake and tsunami that struck Japan on March 11th.
The company predicted its profit for the full year ending in March 2012 would decline 31% to $3.5 billion.
Analysts had been expecting a profit of $5.28 billion, and the company reported $5.1 billion in profit for the year ending March 2011.
The company expects full year sales to decline 2%, and said global production wouldn't recover completely until November.
Toyota Motor has a potential upside of 14.3% based on a current price of $80.84 and an average consensus analyst price target of $92.4.
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