HONDA MOTOR CO. LTD. ADRs $36 (New York symbol HMC; Conservative Growth Portfolio, Manufacturing & Industry sector; ADRs outstanding: 1.8 billion; Market cap: $64.8 billion; Price-to-sales ratio: 0.6; Dividend yield: 2.3%; TSINetwork Rating: Above Average; www.honda.com) is Japan’s secondlargest carmaker and the world’s biggest motorcycle manufacturer.
In 2013, the company sold 1.53 million cars and trucks in the U.S., up 7.2% from 1.42 million in 2012. Honda continues to see strong demand for its Civic compact and Accord sedan. As well, it sold over 300,000 of its CR-V sport utility vehicles for the first time in its history.
The company recently launched new motorcycle models in fast-growing markets like India and Indonesia. (Asia accounts for 87% of Honda’s worldwide motorcycle sales.)
As a result, it sold 4.25 million motorcycles in the three months ended December 31, 2013, up 11.4% from 3.8 million a year earlier. Honda’s Asian sales should keep improving now that it has started making and selling motorcycles in Bangladesh.
The company’s earnings should rise 49.1% in its 2014 fiscal year (which ends March 31, 2014), to $3.22 per ADR from $2.16 in 2013. The stock trades at 11.2 times the 2014 estimate. The $0.83 dividend yields 2.3%.
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