Hennes & Mauritz (OTCMKTS:HNNMY) Shares Gap Up – Here’s Why

Hennes & Mauritz AB (OTCMKTS:HNNMY) gapped up before the market opened on Tuesday . The stock had previously closed at $3.58, but opened at $3.69. Hennes & Mauritz shares last traded at $3.73, with a volume of 60,078 shares traded.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HNNMY. Zacks Research raised Hennes & Mauritz from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Citigroup reissued a “neutral” rating on shares of Hennes & Mauritz in a report on Tuesday. Finally, Pareto Securities cut Hennes & Mauritz to a “sell” rating in a research note on Friday, June 26th. Four research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

Hennes & Mauritz Trading Up 3.0%

The company has a market cap of $26.83 billion, a P/E ratio of 23.88 and a beta of 1.11. The company has a quick ratio of 0.53, a current ratio of 1.07 and a debt-to-equity ratio of 1.31. The business has a fifty day moving average price of $3.48 and a 200-day moving average price of $3.64.

Hennes & Mauritz (OTCMKTS:HNNMY) last released its quarterly 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 return on equity of 31.51% and a net margin of 5.55%.The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.79 billion. On average, analysts forecast that Hennes & Mauritz AB will post 0.17 earnings per share for the current 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.