HSN Inc. (HSNI) Downgraded by Citigroup Inc. to “Neutral”
Citigroup Inc. downgraded shares of HSN Inc. (NASDAQ:HSNI) from a buy rating to a neutral rating in a research note issued to investors on Thursday morning. Citigroup Inc. currently has $43.00 price target on the stock, down from their previous price target of $53.00.
A number of other brokerages have also issued reports on HSNI. Zacks Investment Research lowered shares of HSN from a hold rating to a sell rating in a research note on Tuesday, July 5th. Sidoti dropped their price target on shares of HSN from $62.00 to $58.00 and set a buy rating for the company in a research note on Wednesday, September 14th. Wunderlich dropped their price target on shares of HSN from $68.00 to $62.00 and set a buy rating for the company in a research note on Monday, July 25th. TheStreet lowered shares of HSN from a buy rating to a hold rating in a research note on Wednesday, August 24th. Finally, Bank of America Corp. initiated coverage on shares of HSN in a research note on Tuesday, September 20th. They issued an underperform rating for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $57.38.
HSN (NASDAQ:HSNI) traded up 0.43% during mid-day trading on Thursday, hitting $39.54. 117,247 shares of the stock traded hands. The stock has a 50-day moving average of $41.01 and a 200 day moving average of $48.32. HSN has a 1-year low of $37.34 and a 1-year high of $63.44. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 14.10 and a beta of 1.04.
HSN (NASDAQ:HSNI) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The company had revenue of $854.30 million for the quarter, compared to analyst estimates of $871.23 million. HSN had a net margin of 4.10% and a return on equity of 117.99%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 earnings per share. On average, equities analysts expect that HSN will post $3.07 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Friday, September 2nd. HSN’s dividend payout ratio (DPR) is 50.00%.
In related news, Director Thomas Mcinerney sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $43.62, for a total value of $174,480.00. Following the completion of the sale, the director now owns 59,669 shares of the company’s stock, valued at $2,602,761.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.
Large investors have recently bought and sold shares of the company. FDx Advisors Inc. increased its stake in HSN by 0.4% in the second quarter. FDx Advisors Inc. now owns 9,029 shares of the company’s stock valued at $442,000 after buying an additional 36 shares during the last quarter. Legal & General Group Plc increased its stake in HSN by 1.0% in the second quarter. Legal & General Group Plc now owns 8,693 shares of the company’s stock valued at $422,000 after buying an additional 86 shares during the last quarter. OLD National Bancorp IN increased its stake in HSN by 1.0% in the second quarter. OLD National Bancorp IN now owns 8,962 shares of the company’s stock valued at $439,000 after buying an additional 87 shares during the last quarter. State Treasurer State of Michigan increased its stake in HSN by 0.8% in the second quarter. State Treasurer State of Michigan now owns 12,800 shares of the company’s stock valued at $626,000 after buying an additional 100 shares during the last quarter. Finally, 1st Global Advisors Inc. increased its stake in HSN by 1.6% in the second quarter. 1st Global Advisors Inc. now owns 8,621 shares of the company’s stock valued at $422,000 after buying an additional 132 shares during the last quarter. 63.67% of the stock is owned by institutional investors and hedge funds.
HSN Company Profile
HSN, Inc is an interactive multi-channel retailer. The Company markets and sells a range of third party and private-label merchandise directly to consumers through various platforms, including television home shopping programming broadcast on the HSN television networks; catalogs, comprising the Cornerstone portfolio of print catalogs; Websites, which consist of HSN.com, joymangano.com and over seven branded Websites operated by Cornerstone; mobile devices; retail and outlet stores, and wholesale distribution of certain products to other retailers.
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