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 research report issued 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 research report on Friday, August 12th. Three analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Honda Motor has an average rating of “Hold” and an average target price of $32.40.
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Shares of Honda Motor (NYSE:HMC) traded down 0.30% on Wednesday, hitting $29.43. 411,149 shares of the stock were exchanged. The stock’s 50-day moving average is $29.72 and its 200-day moving average is $27.90. The stock has a market cap of $53.04 billion, a price-to-earnings ratio of 16.52 and a beta of 1.09. Honda Motor has a 1-year low of $24.03 and a 1-year high of $33.87.
Honda Motor (NYSE:HMC) last released its earnings results on Tuesday, August 2nd. The company reported $96.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $74.83 by $22.10. Honda Motor had a net margin of 2.35% and a return on equity of 4.88%. The company had revenue of $3,471.70 billion for the quarter, compared to the consensus estimate of $3,452.87 billion. During the same quarter in the previous year, the company earned $103.22 EPS. Honda Motor’s quarterly revenue was down 6.3% compared to the same quarter last year. Analysts forecast that Honda Motor will post $2.64 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HMC. FNY Managed Accounts LLC acquired a new position in Honda Motor during the third quarter valued at $101,000. Creative Planning increased its position in Honda Motor by 69.7% in the third quarter. Creative Planning now owns 4,057 shares of the company’s stock valued at $117,000 after buying an additional 1,666 shares during the last quarter. IFP Advisors Inc increased its position in Honda Motor by 42.7% in the second quarter. IFP Advisors Inc now owns 4,312 shares of the company’s stock valued at $109,000 after buying an additional 1,291 shares during the last quarter. Balentine LLC increased its position in Honda Motor by 5.8% in the second quarter. Balentine LLC now owns 5,397 shares of the company’s stock valued at $137,000 after buying an additional 297 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. acquired a new position in Honda Motor during the first quarter valued at $159,000. Hedge funds and other institutional investors own 3.01% of the company’s stock.
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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