Honda Motor Co. (HMC) Shares Gap Down to $28.96
Shares of Honda Motor Co. (NYSE:HMC) gapped down prior to trading on Monday . The stock had previously closed at $28.75, but opened at $28.96. Honda Motor shares last traded at $29.22, with a volume of 451,638 shares trading hands.
HMC has been the subject of several recent analyst reports. 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. Erste Group cut shares of Honda Motor from a “hold” rating to a “sell” rating in a research note on Monday, April 25th. Nomura cut shares of Honda Motor from a “neutral” rating to a “reduce” rating in a research note on Friday, May 13th. Finally, Jefferies Group raised 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. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $32.73.
The firm has a market capitalization of $52.66 billion and a P/E ratio of 16.18. The stock has a 50-day moving average price of $26.43 and a 200 day moving average price of $26.87.
Honda Motor (NYSE:HMC) last issued its earnings results on Tuesday, August 2nd. The company reported $96.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $74.83 by $22.10. The business had revenue of $3,471.70 billion for the quarter, compared to analyst estimates of $3,452.87 billion. During the same period last year, the company posted $103.22 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities analysts expect that Honda Motor Co. will post $2.42 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. Stephens Inc. AR raised its position in Honda Motor by 0.6% in the fourth quarter. Stephens Inc. AR now owns 68,113 shares of the company’s stock valued at $2,175,000 after buying an additional 439 shares in the last quarter. Bank of Montreal Can raised its position in Honda Motor by 64.9% in the fourth quarter. Bank of Montreal Can now owns 37,941 shares of the company’s stock valued at $1,213,000 after buying an additional 14,933 shares in the last quarter. Finally, Morgan Stanley raised its position in Honda Motor by 17.5% in the fourth quarter. Morgan Stanley now owns 1,060,244 shares of the company’s stock valued at $33,854,000 after buying an additional 157,952 shares in the last quarter.
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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