Zacks Investment Research upgraded shares of Honda Motor Co. (NYSE:HMC) from a hold rating to a buy rating in a research note published on Tuesday morning. The brokerage currently has $32.00 price objective on the stock.
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.”
Separately, TheStreet upgraded shares of Honda Motor from a hold rating to a buy rating in a research note on Friday, August 12th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $32.40.
Shares of Honda Motor (NYSE:HMC) traded up 3.0465% during trading on Tuesday, reaching $29.9453. The company had a trading volume of 266,176 shares. The firm has a 50-day moving average of $29.96 and a 200-day moving average of $27.75. Honda Motor has a 12-month low of $24.03 and a 12-month high of $33.87. The company has a market cap of $53.97 billion, a P/E ratio of 16.2746 and a beta of 1.09.
Honda Motor (NYSE:HMC) last released its earnings results on Tuesday, August 2nd. The company reported $96.93 earnings per share for the quarter, beating the Thomson Reuters’ 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 business earned $3,471.70 billion during the quarter, compared to analysts’ expectations of $3,452.87 billion. During the same quarter last year, the company earned $103.22 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Honda Motor will post $2.64 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. boosted its position in shares of Honda Motor by 44.4% in the second quarter. American Century Companies Inc. now owns 3,308,363 shares of the company’s stock worth $83,801,000 after buying an additional 1,017,364 shares in the last quarter. Renaissance Technologies LLC boosted 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. Adage Capital Partners GP L.L.C. purchased a new position in Honda Motor during the first quarter worth about $16,404,000. Hotchkis & Wiley Capital Management LLC boosted its position in Honda Motor by 3.1% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 9,248,898 shares of the company’s stock worth $234,275,000 after buying an additional 275,124 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Honda Motor by 12.6% in the first quarter. JPMorgan Chase & Co. now owns 2,187,045 shares of the company’s stock worth $59,794,000 after buying an additional 244,722 shares during the period. Hedge funds and other institutional investors own 3.01% of the company’s stock.
About Honda Motor
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.