Honda Motor Co. (NYSE:HMC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $32.00 price objective on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 10.31% from the stock’s previous close.
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 raised shares of Honda Motor from a “hold” rating to a “buy” rating in a research report on Friday, August 12th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $32.40.
Shares of Honda Motor (NYSE:HMC) opened at 29.01 on Tuesday. The firm has a market capitalization of $52.28 billion, a PE ratio of 15.77 and a beta of 1.09. Honda Motor has a 12-month low of $24.03 and a 12-month high of $33.87. The company has a 50-day moving average of $29.96 and a 200 day moving average of $27.73.
Honda Motor (NYSE:HMC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $96.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $74.83 by $22.10. The business earned $3,471.70 billion during the quarter, compared to analyst estimates 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 revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $103.22 earnings per share. On average, analysts predict that Honda Motor will post $2.64 EPS for the current year.
Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in shares of Honda Motor by 43.8% in the first quarter. Renaissance Technologies LLC now owns 2,041,700 shares of the company’s stock valued at $55,820,000 after buying an additional 621,400 shares during the last quarter. HBK Investments L P bought a new position in shares of Honda Motor during the first quarter valued at approximately $2,866,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Honda Motor during the first quarter valued at approximately $16,404,000. Zweig DiMenna Associates LLC bought a new position in shares of Honda Motor during the second quarter valued at approximately $215,000. Finally, RMB Capital Management LLC increased its position in shares of Honda Motor by 3.4% in the first quarter. RMB Capital Management LLC now owns 83,278 shares of the company’s stock valued at $2,277,000 after buying an additional 2,717 shares during the period. 3.01% of the stock is currently owned by hedge funds and other institutional investors.
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.
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