Japan's Okamoto Industries rises after co says to buy back its own shares
16/03/2018 24:58
** Industrial products maker Okamoto Industries 5122.T
rises 3.2 pct to 1,113 yen, highest since Feb. 28
** Co says to buy back up to 1 mln of its own shares, or
1.04 pct shares outstanding, worth up to 1.3 bln yen
urn:newsml:reuters.com:*:nTSOO77d37
** As of 00:52 GMT, about 131,000 thousand shares of the
Tokyo-to-based company have been traded, about 62.0 percent of
the 30-day moving average of 211,300 thousand shares a day.
** Among the 2 analysts that cover Okamoto Industries Inc,
the current average rating on the shares is "strong buy"; the
breakdown of recommendations is 2 "strong buy" or "buy", no
"hold", no "sell" or "strong sell". The analyst mean price
target is 1,585 yen.
** The forward price-to-earnings ratio for Okamoto
Industries Inc for the next 12 months is 12.46, about 7.80
percent lower than it was at the end of last year ( 13.52)
(Reuters
Messaging:ayai.tomisawa.thomsonreuters.com@reuters.net)