Honda Motor Co. (HMC) Shares Gap Down to $26.99
Shares of Honda Motor Co. (NYSE:HMC) gapped down prior to trading on Friday . The stock had previously closed at $26.92, but opened at $26.99. Honda Motor shares last traded at $27.17, with a volume of 496,831 shares changing hands.
Several analysts have issued reports on HMC shares. Zacks Investment Research raised Honda Motor from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Nomura downgraded Honda Motor from a “neutral” rating to a “reduce” rating in a research note on Friday, May 13th. Jefferies Group lifted their price target on Honda Motor from $33.04 to $34.55 and gave the company a “buy” rating in a research note on Friday, May 13th. Bank of America Corp. downgraded Honda Motor from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 31st. Finally, Credit Agricole SA cut Honda Motor from an “outperform” rating to an “underperform” rating in a report on Friday, May 13th. Four analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Honda Motor has a consensus rating of “Hold” and an average target price of $32.73.
The firm’s 50-day moving average is $26.01 and its 200 day moving average is $26.91. The company has a market capitalization of $48.88 billion and a P/E ratio of 14.98.
Honda Motor (NYSE:HMC) last issued its quarterly earnings results on Friday, May 13th. The company reported ($0.48) EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.97. During the same quarter in the prior year, the business earned $54.30 earnings per share. The business had revenue of $3,657 billion for the quarter, compared to analyst estimates of $127.48 billion. On average, equities analysts expect that Honda Motor Co. will post $2.32 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of HMC. Morgan Stanley boosted its stake in shares of Honda Motor by 17.5% in the fourth quarter. Morgan Stanley now owns 1,060,244 shares of the company’s stock worth $33,854,000 after buying an additional 157,952 shares during the period. Comerica Bank boosted its stake in shares of Honda Motor by 3.3% in the fourth quarter. Comerica Bank now owns 99,360 shares of the company’s stock worth $2,870,000 after buying an additional 3,160 shares during the period. Stephens Inc. AR boosted its stake in shares of Honda Motor by 0.6% in the fourth quarter. Stephens Inc. AR now owns 68,113 shares of the company’s stock worth $2,175,000 after buying an additional 439 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of Honda Motor by 64.9% in the fourth quarter. Bank of Montreal Can now owns 37,941 shares of the company’s stock worth $1,213,000 after buying an additional 14,933 shares during the period.
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.