Honda Motor (NYSE:HMC) Sees Large Volume Increase - Here's What Happened

Key Points

• Honda Motor shares experienced a 75% increase in trading volume on Friday, with 1,818,909 shares traded, closing at $31.16 after a previous close of $30.55.
• Equities analysts have mixed ratings for Honda, with the consensus rating categorized as "Reduce," and significant shifts including a downgrade by Zacks Research from "hold" to "strong sell."
• The company reported quarterly earnings of $0.97 per share, surpassing expectations, and total revenue for the quarter reached $36.22 billion, above the anticipated $36.04 billion.

Honda Motor Co., Ltd. (NYSE:HMC - Get Free Report) shares saw strong trading volume on Friday . 1,818,909 shares traded hands during trading, an increase of 75% from the previous session's volume of 1,038,930 shares.The stock last traded at $31.16 and had previously closed at $30.55.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Honda Motor in a research report on Saturday, September 27th. Zacks Research cut Honda Motor from a "hold" rating to a "strong sell" rating in a report on Monday, September 1st. Wall Street Zen upgraded Honda Motor from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Macquarie cut Honda Motor from an "outperform" rating to a "neutral" rating in a report on Wednesday, June 25th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Honda Motor currently has a consensus rating of "Reduce".

Honda Motor Stock Up 2.7%

The company has a current ratio of 1.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.58. The firm has a market cap of $48.96 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 1.02 and a beta of 0.48. The firm has a 50-day moving average of $33.22 and a two-hundred day moving average of $30.73.

Honda Motor (NYSE:HMC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.46. Honda Motor had a return on equity of 5.03% and a net margin of 2.95%.The business had revenue of $36.22 billion during the quarter, compared to analysts' expectations of $36.04 billion. As a group, sell-side analysts predict that Honda Motor Co., Ltd. will post 3.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Honda Motor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in Honda Motor by 10.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,643 shares of the company's stock valued at $317,000 after acquiring an additional 1,064 shares during the period. Bessemer Group Inc. increased its stake in Honda Motor by 460.2% during the first quarter. Bessemer Group Inc. now owns 1,098 shares of the company's stock valued at $30,000 after acquiring an additional 902 shares during the period. Raymond James Financial Inc. increased its stake in Honda Motor by 4.5% during the first quarter. Raymond James Financial Inc. now owns 435,783 shares of the company's stock valued at $11,823,000 after acquiring an additional 18,667 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Honda Motor by 36.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,635 shares of the company's stock valued at $343,000 after acquiring an additional 3,351 shares during the period. Finally, LPL Financial LLC increased its stake in Honda Motor by 23.7% during the first quarter. LPL Financial LLC now owns 97,348 shares of the company's stock valued at $2,641,000 after acquiring an additional 18,645 shares during the period. 5.32% of the stock is currently owned by institutional investors.

Honda Motor Company Profile

Honda Motor Co, Ltd. develops, manufactures, and distributes motorcycles, automobiles, power, and other products in Japan, North America, Europe, Asia, and internationally. It operates through four segments: Motorcycle Business, Automobile Business, Financial Services Business, and Power Product and Other Businesses.

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