Nomura Downgrades Honda Motor Co Ltd to Neutral (HMC)
Honda Motor Co Ltd (NYSE:HMC) was downgraded by Nomura from a “buy” rating to a “neutral” rating in a research note issued on Thursday, TheFlyOnTheWall.com reports.
Honda Motor Co Ltd (NYSE:HMC) traded down 1.46% during mid-day trading on Thursday, hitting $34.8929. The stock had a trading volume of 447,473 shares. Honda Motor Co Ltd has a 1-year low of $32.42 and a 1-year high of $42.96. The stock’s 50-day moving average is $34.90 and its 200-day moving average is $35.97. The company has a market cap of $62.887 billion and a price-to-earnings ratio of 11.32. Honda Motor Co Ltd also was the recipient of a significant drop in short interest in the month of June. As of June 13th, there was short interest totalling 1,075,354 shares, a drop of 60.7% from the May 30th total of 2,734,373 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 556,186 shares, the short-interest ratio is currently 1.9 days.
Honda Motor Co Ltd (NYSE:HMC) last announced its earnings results on Friday, April 25th. The company reported $94.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $88.01 by $6.60. The company had revenue of $3,097.20 billion for the quarter, compared to the consensus estimate of $3,220.42 billion. The company’s revenue for the quarter was up 3.2% on a year-over-year basis.
A number of other firms have also recently commented on HMC. Analysts at ISI Group initiated coverage on shares of Honda Motor Co Ltd in a research note on Monday, June 16th. They set a “neutral” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Honda Motor Co Ltd in a research note on Friday, June 13th. They now have a $36.00 price target on the stock. Finally, analysts at Ji-Asia Research downgraded shares of Honda Motor Co Ltd from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $39.49.
Honda Motor Co, Ltd. (NYSE:HMC) develops, produces and manufactures a variety of motor products, ranging from small general-purpose engines and scooters to specialty sports cars.
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