HSN Inc. (HSNI) Now Covered by Bank of America Corp.
Analysts at Bank of America Corp. initiated coverage on shares of HSN Inc. (NASDAQ:HSNI) in a research report issued to clients and investors on Tuesday. The brokerage set an “underperform” rating on the stock.
Other research analysts have also issued reports about the stock. Maxim Group initiated coverage on shares of HSN in a research note on Thursday, June 9th. They set a “buy” rating and a $66.00 price objective on the stock. TheStreet upgraded shares of HSN from a “hold” rating to a “buy” rating in a research note on Monday, August 1st. Wunderlich decreased their price target on shares of HSN from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, July 25th. Citigroup Inc. decreased their price target on shares of HSN from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. Finally, Axiom Securities decreased their price target on shares of HSN from $66.00 to $57.00 and set a “buy” rating on the stock in a research note on Monday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. HSN presently has a consensus rating of “Hold” and an average price target of $58.63.
HSN (NASDAQ:HSNI) traded down 5.88% on Tuesday, hitting $38.12. 940,152 shares of the stock were exchanged. HSN has a 1-year low of $37.34 and a 1-year high of $63.44. The company has a 50-day moving average price of $43.75 and a 200 day moving average price of $49.59. The company has a market capitalization of $1.99 billion, a PE ratio of 13.59 and a beta of 0.90.
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HSN (NASDAQ:HSNI) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate 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%. HSN’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 EPS. Analysts anticipate that HSN will post $3.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Wednesday, September 7th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, September 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.67%. HSN’s payout ratio is presently 50.00%.
In other HSN news, Director Thomas Mcinerney sold 4,000 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $43.51, for a total transaction of $174,040.00. Following the transaction, the director now owns 53,669 shares in the company, valued at approximately $2,335,138.19. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in HSNI. FMR LLC raised its position in shares of HSN by 65.6% in the second quarter. FMR LLC now owns 3,240,299 shares of the company’s stock worth $158,547,000 after buying an additional 1,283,347 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of HSN by 2.0% in the second quarter. Vanguard Group Inc. now owns 2,285,671 shares of the company’s stock worth $111,839,000 after buying an additional 44,343 shares during the period. BlackRock Fund Advisors increased its stake in shares of HSN by 0.9% in the second quarter. BlackRock Fund Advisors now owns 1,562,174 shares of the company’s stock worth $76,437,000 after buying an additional 13,707 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of HSN by 1.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 934,153 shares of the company’s stock worth $45,708,000 after buying an additional 12,210 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of HSN by 22.9% in the second quarter. Dimensional Fund Advisors LP now owns 897,737 shares of the company’s stock worth $43,925,000 after buying an additional 166,996 shares during the period. Hedge funds and other institutional investors own 63.82% of the company’s stock.
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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