Japan's Mitsui High-tech nosedives after co says expects 30 pct fall in profit
16/03/2018 24:41
** Industrial machinery maker Mitsui High-tech Inc 6966.T
nosedives 17 pct to 1,672 yen, lowest since August
** Co expects operating profit to decline by 30 pct on year
to 1.5 bln yen for FY ending January 2019 due to increased
capital expenditure urn:newsml:reuters.com:*:nXB0IMP66A
** Co also expects lower annual dividend payout, 8 yen/share
compared to 16 yen/share in previous year
** As of 00:36 GMT, about 1.16 million shares of the
Fukuoka-ken-based company have been traded, about 404.4 percent
of their 30-day moving average of 286,900 shares a day.
** Among the 2 analysts that cover Mitsui High-tec Inc, the
current average rating on the shares is "buy"; the breakdown of
recommendations is 1 "strong buy" or "buy", one "hold", no
"sell" or "strong sell". The analyst mean price target is 2,550
yen.
** The forward price-to-earnings ratio for Mitsui High-tec
Inc for the next 12 months is 21.50, about 2.49 percent lower
than it was at the end of last year ( 22.05)
(Reuters
Messaging:ayai.tomisawa.thomsonreuters.com@reuters.net)