Toshiba Corp. (TSE:6502, Financial) 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, Financial), 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.
Source: marketwatch.com
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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