HONDA MOTOR CO. LTD. ADRs $33(New York symbol HMC; Conservative Growth Portfolio, Manufacturing & Industry sector; ADRs outstanding: 1.8 billion; Market cap: $59.4 billion; Price-to-sales ratio: 0.6; Dividend yield: 2.4%; TSINetwork Rating: Above Average; www.honda.com) is Japan’s second largest carmaker and the world’s biggest motorcycle manufacturer.
In its 2015 fiscal year, which ended March 31, 2015, Honda sold 4.36 million vehicles, up 0.9% from 2014. New models increased Asian sales by 10.8%, but sales fell 0.6% in the U.S., 1.2% in Europe and 7.0% in Japan. Motorcycle sales rose 4.4%. Unfavourable currency rates cut revenue by 8.3%, to $105.4 billion from $114.9 billion. Earnings per ADR declined 21.9%, to $2.42 from $3.10 (each ADR equals one common share).
The company expects its car sales to rise 8.0% in fiscal 2016, while motorcycle sales will gain 2.6%. That should lift its earnings to $2.68 per ADR, and the stock trades at 12.3 times that estimate. The $0.80 dividend yields 2.4%.
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