January 26, 2018 / 2:09 AM / a month ago

BUZZ-Japan's Suzuki Motor tumbles as Maruti Suzuki posts lower-than-expected profit rise

** Suzuki Motor Corp shares fall 4.2 pct to 6,140 yen, lowest since early December

** Maruti Suzuki India Ltd, India’s top-selling car maker, posted a lower-than-expected 3 percent rise in quarterly net profit as higher sales of its compact and utility vehicles were partially offset by higher raw material costs

** Maruti Suzuki, which is majority-owned by Japan's Suzuki, reported a profit of 17.99 billion rupees ($282.9 million) for the third quarter ended Dec. 31, versus 17.47 billion rupees a year earlier (bit.ly/2FdPo9M)

** As of 0155 GMT, about 2.29 million Suzuki shares have been traded, compared with their 30-day moving average of 1.43 million shares a day

** Among the 22 analysts that cover Suzuki, the current average rating on the shares is “buy”; the breakdown of recommendations is 17 “strong buy” or “buy”, five “hold”; analyst mean price target is 7,026.32 yen

** The 12-mth forward price-to-earnings ratio for Suzuki at 13.27, lower than 13.70 at the end of last year

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