Hennes & Mauritz (OTCMKTS:HNNMY) Shares Gap Down – Here’s What Happened

Hennes & Mauritz AB (OTCMKTS:HNNMY) gapped down prior to trading on Wednesday . The stock had previously closed at $3.62, but opened at $3.4450. Hennes & Mauritz shares last traded at $3.44, with a volume of 9,740 shares changing hands.

Analysts Set New Price Targets

HNNMY has been the subject of several analyst reports. Citigroup reissued a “neutral” rating on shares of Hennes & Mauritz in a research note on Tuesday, August 18th. Zacks Research raised shares of Hennes & Mauritz from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Finally, Pareto Securities downgraded Hennes & Mauritz to a “sell” rating in a report on Friday, June 26th. Four analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Hennes & Mauritz presently has a consensus rating of “Reduce”.

Hennes & Mauritz Trading Down 2.6%

The company has a 50 day simple moving average of $3.54 and a 200 day simple moving average of $3.60. The company has a current ratio of 1.07, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $24.07 billion, a PE ratio of 21.43 and a beta of 1.12.

Hennes & Mauritz (OTCMKTS:HNNMY) last issued its earnings results on Thursday, June 25th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Hennes & Mauritz had a net margin of 5.55% and a return on equity of 31.51%. The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.79 billion. Analysts predict that Hennes & Mauritz AB will post 0.17 earnings per share for the current fiscal year.

Hennes & Mauritz Company Profile

Hennes & Mauritz AB, commonly known as H&M, is a Swedish multinational fashion retailer that designs, sources and sells ready-to-wear clothing, accessories and home textiles. The company traces its roots to 1947, when Erling Persson opened a women’s clothing store called Hennes (“hers”) in Västerås, Sweden; the business expanded into menswear after the acquisition of a Stockholm-based retailer, Mauritz Widforss, in the late 1960s, which led to the Hennes & Mauritz name. Today the company is headquartered in Stockholm and operates a global retail business built around multiple branded concepts.

H&M’s core activities include product design, sourcing and retailing of fashion for women, men, teenagers and children, as well as home goods under its H&M Home line.