Honda Motor Co. (HMC) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Honda Motor Co. (NYSE:HMC) from a hold rating to a buy rating in a report released on Tuesday. Zacks Investment Research currently has $32.00 price target 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 report on Friday, August 12th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Honda Motor currently has an average rating of Hold and an average target price of $32.40.
Shares of Honda Motor (NYSE:HMC) traded down 0.74% on Tuesday, reaching $29.37. 48,910 shares of the company’s stock traded hands. The firm has a market capitalization of $52.93 billion, a P/E ratio of 16.08 and a beta of 1.09. Honda Motor has a 52 week low of $24.03 and a 52 week high of $33.87. The company’s 50-day moving average is $29.97 and its 200-day moving average is $27.77.
Honda Motor (NYSE:HMC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $96.93 EPS for the quarter, topping the consensus estimate of $74.83 by $22.10. The business earned $3,471.70 billion during the quarter, compared to analysts’ expectations of $3,452.87 billion. Honda Motor had a net margin of 2.35% and a return on equity of 4.88%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $103.22 earnings per share. Equities research analysts anticipate that Honda Motor will post $2.64 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of HMC. Adage Capital Partners GP L.L.C. purchased a new stake in Honda Motor during the first quarter worth $16,404,000. NINE MASTS CAPITAL Ltd increased its stake 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 in the last quarter. Renaissance Technologies LLC increased its stake 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 in the last quarter. HBK Investments L P purchased a new stake in Honda Motor during the first quarter worth $2,866,000. Finally, Scotia Capital Inc. increased its stake in Honda Motor by 0.9% in the first quarter. Scotia Capital Inc. now owns 35,797 shares of the company’s stock worth $979,000 after buying an additional 317 shares in the last quarter. 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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