Honda Motor (NYSE:HMC) Sees Unusually-High Trading Volume – Here’s Why

Honda Motor Co., Ltd. (NYSE:HMC) shares saw an uptick in trading volume on Friday . 1,818,909 shares changed hands during trading, an increase of 75% from the previous session’s volume of 1,038,930 shares.The stock last traded at $31.16 and had previously closed at $30.55.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HMC. Zacks Research lowered shares of Honda Motor from a “hold” rating to a “strong sell” rating in a research note on Monday, September 1st. Macquarie downgraded shares of Honda Motor from an “outperform” rating to a “neutral” rating in a research report on Wednesday, June 25th. Wall Street Zen raised shares of Honda Motor from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Honda Motor in a research report on Saturday, September 27th. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce”.

Honda Motor Trading Up 2.7%

The firm has a market cap of $48.96 billion, a PE ratio of 10.85, a P/E/G ratio of 1.04 and a beta of 0.48. The company’s fifty day moving average price is $33.18 and its two-hundred day moving average price is $30.74. The company has a quick ratio of 1.01, a current ratio of 1.30 and a debt-to-equity ratio of 0.58.

Honda Motor (NYSE:HMC) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.46. The business had revenue of $36.22 billion for the quarter, compared to the consensus estimate of $36.04 billion. Honda Motor had a net margin of 2.95% and a return on equity of 5.03%. As a group, sell-side analysts forecast that Honda Motor Co., Ltd. will post 3.99 earnings per share for the current fiscal year.

Institutional Trading of Honda Motor

Several hedge funds and other institutional investors have recently made changes to their positions in HMC. Balyasny Asset Management L.P. purchased a new stake in shares of Honda Motor in the second quarter valued at about $12,987,000. Auto Owners Insurance Co boosted its holdings in Honda Motor by 167.6% during the second quarter. Auto Owners Insurance Co now owns 655,650 shares of the company’s stock worth $18,902,000 after buying an additional 410,650 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Honda Motor by 2.4% during the second quarter. Fisher Asset Management LLC now owns 10,367,489 shares of the company’s stock worth $298,895,000 after buying an additional 239,663 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in Honda Motor by 55.4% during the second quarter. Quantinno Capital Management LP now owns 310,173 shares of the company’s stock worth $8,942,000 after buying an additional 110,588 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Honda Motor by 41.4% during the first quarter. Millennium Management LLC now owns 342,491 shares of the company’s stock worth $9,292,000 after buying an additional 100,330 shares in the last quarter. Hedge funds and other institutional investors own 5.32% of the company’s stock.

Honda Motor Company Profile

Honda Motor Co, Ltd. develops, manufactures, and distributes motorcycles, automobiles, power, and other products in Japan, North America, Europe, Asia, and internationally. It operates through four segments: Motorcycle Business, Automobile Business, Financial Services Business, and Power Product and Other Businesses.