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Honda (HMC) Recalls Nearly 330,000 Vehicles Over Safety Issues
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Honda Motor (HMC - Free Report) is recalling over 330,000 vehicles because the heating pads behind both side-view mirrors may not be properly bonded, possibly resulting in the mirror glass coming out and increasing the risk of accidents.
The recall covers the 2020-2022 Odyssey, 2020-2022 Passport, 2020-2021 Pilot and 2020-2021 Ridgeline.
As stated by the National Highway Traffic Safety Administration, the vehicles do not comply with the necessary rear visibility standards.
Honda dealers will replace impacted vehicles' side-view mirrors at no cost.
Honda is a leading automaker and the world's largest producer of motorcycles. Internationally, the company is known for a wide range of goods, ranging from modest general-purpose engines to specialized sports cars that employ its efficient internal combustion engine innovations.
Shares of the company have gained 21.5% over the past year against the 9.4% rise of its industry.
It anticipates fiscal 2023 sales volumes from the Motorcycle, Automobile and Power Products segments to be 18.73 million units, 3.85 million units and 5.58 million units, respectively, compared with prior estimates of 18.43 million units, 4.1 million units, and 5.66 million units.
Honda expects revenues of ¥17.25 trillion in fiscal 2023, indicating a rise of 18.5% year on year. Operational profit is expected to be ¥870 billion, roughly identical to that of fiscal 2022. The pre-tax profit is expected to be ¥1.080 billion.
R&D expenses for fiscal 2023 are expected to reach ¥860 billion, up from ¥804 billion in fiscal 2022. Capex is expected to be ¥550 billion, indicating a significant increase from the ¥278.4 billion recorded in fiscal 2022.
Zacks Rank & Key Picks
Honda currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks to consider in the Auto-Tires-Trucks space include Wabash National (WNC - Free Report) , Mazda Motor (MZDAY - Free Report) and Modine Manufacturing (MOD - Free Report) .
Wabash National currently sports a Zacks Rank #1 (Strong Buy). The company has a projected earnings growth rate of 28.9% for the current year. It has a trailing four-quarter earnings surprise of roughly 46.1% on average. WNC has gained approximately 54.3% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Mazda Motor currently carries a Zacks Rank #2 (Buy). The company has a projected earnings growth rate of 4% for the current year. It has a trailing four-quarter earnings surprise of roughly 97% on average. MZDAY has gained approximately 37.8% in a year.
Modine Manufacturing currently sports a Zacks Rank #1. The company has a projected earnings growth rate of 43.1% for the current year. It has a trailing four-quarter earnings surprise of roughly 56.1% on average. MOD has gained approximately 73.7% in a year.
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Honda (HMC) Recalls Nearly 330,000 Vehicles Over Safety Issues
Honda Motor (HMC - Free Report) is recalling over 330,000 vehicles because the heating pads behind both side-view mirrors may not be properly bonded, possibly resulting in the mirror glass coming out and increasing the risk of accidents.
The recall covers the 2020-2022 Odyssey, 2020-2022 Passport, 2020-2021 Pilot and 2020-2021 Ridgeline.
As stated by the National Highway Traffic Safety Administration, the vehicles do not comply with the necessary rear visibility standards.
Honda dealers will replace impacted vehicles' side-view mirrors at no cost.
Honda is a leading automaker and the world's largest producer of motorcycles. Internationally, the company is known for a wide range of goods, ranging from modest general-purpose engines to specialized sports cars that employ its efficient internal combustion engine innovations.
Shares of the company have gained 21.5% over the past year against the 9.4% rise of its industry.
It anticipates fiscal 2023 sales volumes from the Motorcycle, Automobile and Power Products segments to be 18.73 million units, 3.85 million units and 5.58 million units, respectively, compared with prior estimates of 18.43 million units, 4.1 million units, and 5.66 million units.
Honda expects revenues of ¥17.25 trillion in fiscal 2023, indicating a rise of 18.5% year on year. Operational profit is expected to be ¥870 billion, roughly identical to that of fiscal 2022. The pre-tax profit is expected to be ¥1.080 billion.
R&D expenses for fiscal 2023 are expected to reach ¥860 billion, up from ¥804 billion in fiscal 2022. Capex is expected to be ¥550 billion, indicating a significant increase from the ¥278.4 billion recorded in fiscal 2022.
Zacks Rank & Key Picks
Honda currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks to consider in the Auto-Tires-Trucks space include Wabash National (WNC - Free Report) , Mazda Motor (MZDAY - Free Report) and Modine Manufacturing (MOD - Free Report) .
Wabash National currently sports a Zacks Rank #1 (Strong Buy). The company has a projected earnings growth rate of 28.9% for the current year. It has a trailing four-quarter earnings surprise of roughly 46.1% on average. WNC has gained approximately 54.3% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Mazda Motor currently carries a Zacks Rank #2 (Buy). The company has a projected earnings growth rate of 4% for the current year. It has a trailing four-quarter earnings surprise of roughly 97% on average. MZDAY has gained approximately 37.8% in a year.
Modine Manufacturing currently sports a Zacks Rank #1. The company has a projected earnings growth rate of 43.1% for the current year. It has a trailing four-quarter earnings surprise of roughly 56.1% on average. MOD has gained approximately 73.7% in a year.