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InvestorGuide Stock Analysis

Honda President to Stop Driving the Company
Excerpt from the InvestorGuide.com Stock of the Day on 2/23/2009

After 6 years of being in charge, Honda's President Takeo Fukui will be stepping down from his position. This move follows a similar one made by Toyota (TM: Charts, News, Offers), when Katsuaki Watanabe was replaced by Akio Toyoda. The head of its core carmaking business, Takanobu Ito, will become the new chief at the second-largest Japanese car-making company. Mr. Fukui will remain with the company as a member of the board. With the global slump adversely affecting manufacturing companies, and particularly car manufacturers, is this the right time to be replacing the CEO?

Despite what the Japanese carmaker is saying, probably not. The company stated that this occurred in order to provide the company fresh leadership. However, Honda did not necessarily need new leadership. They were doing better than many of their rivals in this global climate and were still able to turn a profit. In fact, on January 30, Honda was able to post a profit of 0.12 per share for its recent quarter ending in December. This represented a 90 percent profit decline, but is far from the losses experienced by US rivals, General Motors (GM: Charts, News, Offers) or Chrysler. Still, the company is not invincible. They are planning to eliminate 4,300 temporary jobs in Japan and reducing workers at their plants. For this current quarter, they expect to post a loss of 243 billion yen ($2.6 billion). In terms of earnings, they expect 80 billion yen ($856 million) in profits for the fiscal-year ending March. This is down about 87 percent from previous forecasts and takes into consideration the stronger yen hurting exports. Other efforts to cut costs include the selling of its Formula One racing team. All things considered, Mr. Fukui has been doing a good job with keeping the company profitable in uncertain times. More >

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Morningstar Analysis for Honda Motor Company

Honda Motor Company (HMC) Upgrades

Date
Analyst
Old Rating
New Rating
09/08/2009
Bank of America
Underperform
Neutral
07/01/2008
Nomura
Reduce
Neutral
11/01/2006
Banc of America
Buy
Neutral

Honda Motor Company (HMC) Downgrades

Date
Analyst
Old Rating
New Rating
06/12/2009
Barclays
Overweight
Equalweight
05/26/2009
Citi
Buy
Hold
12/17/2008
Merrill Lynch
Neutral
Underperform
09/29/2005
CSFB
Neutral
N/A

Honda Motor Company (HMC) New Coverage

Date
Analyst
Rating
No new coverage listed for HMC at this time.
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