Toyota is listed on the Tokyo Stock Exchange (TSE) under the ticker symbol 7203. The company is also part of the Nikkei 225 and TOPIX indices, indicating its significance within the Japanese stock market. It is also part of the S&P Global 100 index.
Toyota Stock Price Today (TYO: 7203)
Japanese automotive manufacturer Toyota Motor Corporation was founded in 1937 by Kiichiro Toyoda. The company, which is headquartered in Toyota City, Aichi, Japan, is one of the largest automakers in the world, producing a broad range of vehicles. The production of Toyota vehicles outside of Japan started in 1959 in Brazil, and now the automotive giant manufactures Toyota and Lexus brand vehicles and components globally.
The company is well-known for its innovation in automotive technology, particularly in hybrid and hydrogen fuel cell vehicles, and it has been a pioneer in sustainable mobility with the launch of the Prius, the world’s first mass-produced hybrid car.
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Motor Industry Comparison
Toyota EPS and Revenue Breakdown 2020-2023
| Year | Gross Profit | Annual Revenue |
|---|---|---|
| 2020 | KRW2.00 trillion | KRW12.57 trillion |
| 2021 | KRW3.90 trillion | KRW17.85 trillion |
| 2022 | KRW4.30 trillion | KRW25.60 trillion |
| 2023 | KRW 4.94 trillion | KRW33.75 trillion |
Toyota Price & Dividend Yield
Up until March 2024, Toyota’s share price was very strong, climbing to above the JPY 3,800 mark. However, the company, which was first listed on the First Section of the Tokyo, Nagoya, and Osaka stock exchanges in May 1949, has declined more than 27% over the past six months. Even so, it is still currently up more than 5% this year, trading above the JPY 2,700 mark.
Dividend Yield: 2.6%
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Toyota Share Price Forecast
Based on data from TradingView, out of 21 analysts covering Toyota, 16 have issued the stock a Buy rating, while five have given it a Hold rating.
A View From The Bulls: At the start of the year, Citi raised its price target for Toyota to 3,400 from 3,100, noting strong demand for the company's vehicles. The investment bank said at the time that demand for Toyota and Lexus brand vehicles is robust and they believe the gains from an improved mix and price increases will exceed market expectations.
A View From The Bears: On the other hand, Toyota was downgraded to Hold from Buy at Erste Group in June. The firm told investors in a research note that the company's new production strategy should make it feasible to manufacture vehicles sold from 2026 at a significantly lower cost. However, they added that recently revealed manipulations with missing safety tests, including in models that are currently still on sale, have resulted in vehicle sales being halted.
Elsewhere, UBS recently cut its target for Toyota Motor to JPY 2,600 from JPY 3,400, maintaining a Neutral rating on the stock. The firm said that the stock's price-to-earnings (P/E) ratio has fallen along with global automotive OEMs' valuations. “We think the share price is within a reasonable range,” stated UBS.
Analyst Consensus 12-Month Price Target: JPY 3,459
Our View: Toyota’s leadership in hybrid technology positions the company as somewhat of a key player in the transition to EVs. Toyota’s approach, balancing traditional internal combustion engines and hybrid vehicles with a growing lineup of EVs, gives it a unique edge over its competitors. However, some analysts have expressed concerns about the company's lack of an electric vehicle strategy which is one potential headwind to watch out for.
Who Should Buy Toyota Motor Shares?
Toyota is well-suited for long-term investors who are looking for exposure to the automotive industry. The company's leadership in hybrid technology and its work in hydrogen fuel cells offer promising growth prospects.
Dividend-seeking investors may also find Toyota appealing, as the company has a solid track record of paying dividends.
Investors who are confident in the long-term potential of Toyota’s strategy and its ability to maintain market leadership amidst growing competition should consider adding Toyota shares to their portfolio.
Furthermore, those bullish on Japanese economic growth may want to take a closer look at Toyota. Economic growth in Japan will help domestic consumption, while confidence in the country's economy will attract foreign investment.
