|Bid||31,050.00 x 0|
|Ask||31,100.00 x 0|
|Day's Range||30,950.00 - 31,550.00|
|52 Week Range||29,950.00 - 40,350.00|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 27, 2018|
|Forward Dividend & Yield||800.00 (2.55%)|
|1y Target Est||37,018.00|
Shares in Hyundai Motor tumbled on Monday on news of a U.S. probe into why air bags failed to deploy in some of its Sonata sedans, with investors fretting about potential recall costs for the once popular cars. Scarlett Cvitanovich reports.
Hyundai Motor Co's quarterly profit halved to an almost six-year low, as bleak U.S. and China sales contrasted with those at home where the automaker is picking up customers of General Motors Co's troubled South Korean arm. The lacklustre results serve as a reminder of how Hyundai, which has been in the red for five years, continues to struggle due to its heavy reliance on sedan sales and slow response to rising demand for sport utility vehicles (SUVs) in China and the United States, the world's top two auto markets. Hyundai shares fell almost 6 percent after it reported a January-March profit of 668 billion won ($619.15 million), the weakest since the first quarter of 2012 and below 1.3 trillion won reported in the corresponding 2017 period.
Hyundai Motor Group said it would continue to communicate with shareholders and investors, including Elliott Management, over its proposed restructuring plan. "Hyundai Motor Group will continuously communicate with shareholders and investors around the world, including Elliott Management, to explain the underlying goal and needs of the proposed restructuring plan," it said in a statement on Monday. U.S. activist hedge fund Elliott Management said earlier Hyundai's restructuring plan to simplify its shareholding structure was not enough and recommended it create a holding company, among other measures.
SEOUL/NEW YORK (Reuters) - South Korea's Hyundai Mobis plans to meet U.S. activist hedge fund Elliott Management next week, two sources told Reuters, after Elliott launched a campaign to pressure Hyundai Motor Group to improve governance and boost returns. The meeting would take place in Europe as part of Hyundai Mobis' investor conference sponsored by Citi, one of the two sources familiar with the matter said, without providing more details on what would be discussed or who would attend. A Hyundai Mobis spokesman declined to comment.
SEOUL/NEW YORK, April 4 (Reuters) - A unit of U.S. activist hedge fund Elliott Management revealed on Wednesday that it holds more than $1 billion worth of shares in key affiliates of South Korea's Hyundai Motor Group and called for more rapid reform of the auto giant's governance. It is Elliott's latest challenge to South Korea's family-run conglomerates after it forced Samsung Electronics Co Ltd to increase shareholder returns in 2017, and comes amid a government campaign to boost investors' power in a country where shareholder activism is rare.
South Korea's Hyundai Motor Group said on Wednesday it was "confident" its plan to streamline its governance structure would benefit shareholders, amid investor concerns that the controlling family's interests were being put first. The comments came after a unit of U.S. activist hedge fund Elliott Management said it held more than $1 billion of shares in three key Hyundai Motor Group affiliates and called for more to be done to reform the family-owned conglomerate. "We will make continued efforts to enhance corporate value and investor interest going forwards and plan to faithfully communicate with shareholders in South Korea and overseas," Hyundai Motor Group said in a statement.
A unit of activist hedge fund Elliott Management said on Wednesday that it holds more than $1 billion of shares in three key affiliates of South Korea's Hyundai Motor Group, and said more needs to be done ...
Moody's Investors Service says that Hyundai Motor Group's reorganization plan will unlikely have an immediate impact on Hyundai Mobis Co., Ltd.'s and Hyundai Glovis Co., Ltd.'s Baa1 issuer ratings and ...
Worries that Hyundai Motor Group's planned restructuring will benefit the controlling family ahead of some shareholders have hit Hyundai Mobis Co Ltd , which is set to be the group's de facto holding firm, sending its shares sharply lower on Thursday. The parts supplier's shares fell 3 percent as investors fretted it may be forced to hand over a lucrative business to Hyundai Glovis , another group firm, too cheaply as part of the structural overhaul. "From the perspective of the biggest shareholders, this is a satisfying deal...but for minority shareholders, there seems to be nothing for now," said Lee Hae-chang, a portfolio manager at Franklin Templeton Investment Trust Management.
Moody's Investors Service says that Hyundai Steel Company's (Baa2 stable) plan to sell its 5.7% stake in Hyundai Mobis Co., Ltd. (Baa1 stable) is credit positive for the former, but will not have an immediate ...
WASHINGTON (AP) — The White House on Wednesday hailed a revamped trade agreement with South Korea as a vindication of President Donald Trump's hard-nosed approach to international trade.
South Korea's auto-to-steel giant Hyundai Motor Group will streamline its complex ownership structure, as it responds to calls from the government and investors to reform the country's powerful family-controlled conglomerates or chaebol. Hyundai Mobis Co Ltd , a key affiliate, will spin off its module and after-service parts businesses and merge them with another group affiliate, Hyundai Glovis . Parent Hyundai Motor Group's Chairman Chung Mong-koo and his son Chung Eui-sun, who is vice chairman, will then buy stakes in Mobis held by other affiliates Kia Motors , Glovis and Hyundai Steel .
SEOUL (Reuters) - South Korea's auto parts maker Hyundai Mobis Co Ltd said on Wednesday it will spin off its module and after-service parts businesses and merge them with affiliate Hyundai Glovis . South ...
WASHINGTON/SEOUL (Reuters) - The United States and South Korea agreed to revise their six-year-old trade pact with a side deal to deter competitive currency devaluation by Seoul and with concessions for U.S. autos and pharmaceutical companies, Trump administration officials said on Tuesday. The agreement, cobbled together quickly with only a few rounds of negotiations under Trump's threat of withdrawal, will include a side-letter that requires South Korea to provide increased transparency of its foreign exchange interventions, with commitments to avoid won devaluations for competitive purposes.
WASHINGTON/SEOUL, March 28 (Reuters) - The United States and South Korea agreed to revise their six-year-old trade pact with a side deal to deter competitive currency devaluation by Seoul and with concessions for U.S. autos and pharmaceutical companies, Trump administration officials said on Tuesday. The agreement, cobbled together quickly with only a few rounds of negotiations under Trump's threat of withdrawal, will include a side-letter that requires South Korea to provide increased transparency of its foreign exchange interventions, with commitments to avoid won devaluations for competitive purposes.
WASHINGTON (AP) — The Trump administration said Tuesday it has widened U.S. access to South Korea's car market while providing American manufacturers protection from South Korean imports.
The United States and South Korea have reached agreement in principle on a new trade pact and details will be released soon, the White House said on Tuesday. "We have come to an agreement in principle and we expect to roll out specific details on that very soon," White House spokeswoman Sarah Sanders told a briefing.
SEOUL, South Korea (AP) — Unions at South Korea's two-largest automakers, Hyundai Motor Co. and Kia Motors Corp., have blasted plans to revise a free trade deal with the United States, saying the amended deal will prevent local automakers from entering the fast-growing U.S. pick-up truck market.
Hyundai Motor said on Tuesday it is cautious about developing autonomous vehicles because of safety concerns after an Uber self-driving car hit and killed a woman in the United States. The accident involving the U.S. technology firm's car in Arizona marked the first fatality linked to an autonomous vehicle and a potential blow to the technology expected to transform transportation. "When we evaluated other companies vehicles, they had more relaxed safety standards," he told reporters, adding that Hyundai is taking more time than rivals to develop autonomous technology to guarantee safety.
Safety regulators in the U.S. are investigating air bags in certain Hyundai and Kia vehicles that failed to deploy in frontal collisions linked to four deaths and six injuries.
U.S. safety regulators are investigating Hyundai Motor and Kia Motors cars with air bags that failed to deploy, a problem linked to four deaths and six injuries.
Shares in Hyundai Motor tumbled on Monday on a U.S. probe into why air bags failed to deploy in some of its Sonata sedans, with investors fretting about potential recall costs for the once popular cars. The probe, which follows crashes that reportedly killed four people and left six injured, will review the 2011 Sonata sedan as well as the 2012-2013 Forte made by affiliate Kia Motors Corp, encompassing some 425,000 vehicles. It marks the second investigation by the U.S. National Highway Traffic Safety Administration into the South Korean duo in less than one year, exacerbating headaches for Hyundai which reported in January its worst annual earnings in seven years.