Honda Motor Co. (HMC) Downgraded by Zacks Investment Research to Hold
Honda Motor Co. (NYSE:HMC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Honda’s focus on product and infrastructure development, and rapid expansion in Asia are tailwinds. The company’s wide product line-up should help boost sales. Operating income and net income are also expected to improve in fiscal 2017. However, Honda is bearing the brunt of frequent recalls to fix faulty Takata airbags. A weak fiscal 2017 revenue guidance, falling sales in Japan, and high research and development (R&D) expenses are other concerns. Honda’s quarterly earnings estimates have increased significantly over the last 60 days but annual estimates have been witnessing a downtrend lately.”
Separately, TheStreet upgraded shares of Honda Motor from a “hold” rating to a “buy” rating in a report on Friday, August 12th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $32.40.
Shares of Honda Motor (NYSE:HMC) traded down 0.30% during midday trading on Wednesday, reaching $29.43. The company had a trading volume of 411,149 shares. Honda Motor has a 12 month low of $24.03 and a 12 month high of $33.87. The firm’s 50 day moving average price is $29.72 and its 200-day moving average price is $27.90. The company has a market capitalization of $53.04 billion, a P/E ratio of 16.52 and a beta of 1.09.
Honda Motor (NYSE:HMC) last posted its earnings results on Tuesday, August 2nd. The company reported $96.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $74.83 by $22.10. The company had revenue of $3,471.70 billion for the quarter, compared to analyst estimates of $3,452.87 billion. Honda Motor had a net margin of 2.35% and a return on equity of 4.88%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the business posted $103.22 earnings per share. Analysts anticipate that Honda Motor will post $2.64 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of HMC. LPL Financial LLC increased its position in Honda Motor by 4.2% in the first quarter. LPL Financial LLC now owns 37,986 shares of the company’s stock worth $974,000 after buying an additional 1,546 shares during the period. A.R.T. Advisors LLC increased its position in Honda Motor by 79.1% in the first quarter. A.R.T. Advisors LLC now owns 52,746 shares of the company’s stock worth $1,442,000 after buying an additional 23,300 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in Honda Motor during the first quarter worth $16,404,000. NINE MASTS CAPITAL Ltd increased its position in Honda Motor by 23.5% in the first quarter. NINE MASTS CAPITAL Ltd now owns 244,730 shares of the company’s stock worth $6,712,000 after buying an additional 46,503 shares during the period. Finally, Renaissance Technologies LLC increased its position in Honda Motor by 43.8% in the first quarter. Renaissance Technologies LLC now owns 2,041,700 shares of the company’s stock worth $55,820,000 after buying an additional 621,400 shares during the period. 3.01% of the stock is owned by institutional investors.
Honda Motor Company Profile
Honda Motor Co, Ltd. (Honda) develops, manufactures and markets motorcycles, automobiles and power products across the world. The Company’s segments include Motorcycle Business, Automobile business, Financial services business, and Power product and other businesses. The Company produces a range of motorcycles, with engine displacement ranging from the 50 cubic centimeters class to the 1,800 cubic centimeters class.
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