Honda Motor Co. (HMC) Shares Gap Up to $28.32
Honda Motor Co. (NYSE:HMC) shares gapped up before the market opened on Thursday . The stock had previously closed at $28.05, but opened at $28.32. Honda Motor shares last traded at $28.73, with a volume of 437,003 shares traded.
Several research firms have recently weighed in on HMC. Jefferies Group lifted their price objective on shares of Honda Motor from $33.04 to $34.55 and gave the company a “buy” rating in a research note on Friday, May 13th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Honda Motor in a research note on Monday, April 18th. Zacks Investment Research upgraded shares of Honda Motor from a “strong sell” rating to a “hold” rating in a research note on Monday, August 1st. Bank of America Corp. lowered shares of Honda Motor from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 31st. Finally, Nomura lowered shares of Honda Motor from a “neutral” rating to a “reduce” rating in a research note on Friday, May 13th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Honda Motor has a consensus rating of “Hold” and a consensus price target of $32.73.
The stock’s 50 day moving average is $26.34 and its 200-day moving average is $26.88. The firm has a market capitalization of $52.19 billion and a price-to-earnings ratio of 15.51.
Honda Motor (NYSE:HMC) last issued its earnings results on Tuesday, August 2nd. The company reported $96.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $74.83 by $22.10. The firm earned $3,471.70 billion during the quarter, compared to analysts’ expectations of $3,452.87 billion. During the same period in the prior year, the company earned $103.22 EPS. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, analysts forecast that Honda Motor Co. will post $2.42 earnings per share for the current year.
Several hedge funds recently added to or reduced their stakes in the stock. Morgan Stanley raised its stake in 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. Bank of Montreal Can raised its stake in 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. Finally, Stephens Inc. AR raised its stake in 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.
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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