HSN Inc. (HSNI) Receives New Coverage from Analysts at Bank of America Corp.
Analysts at Bank of America Corp. assumed coverage on shares of HSN Inc. (NASDAQ:HSNI) in a research report issued on Tuesday. The brokerage set an “underperform” rating on the stock.
A number of other equities analysts also recently commented on the stock. Citigroup Inc. decreased their price objective on shares of HSN from $55.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, September 15th. TheStreet downgraded shares of HSN from a “buy” rating to a “hold” rating in a report on Wednesday, August 24th. Axiom Securities decreased their price objective on shares of HSN from $66.00 to $57.00 and set a “buy” rating for the company in a report on Monday, August 8th. Maxim Group started coverage on shares of HSN in a report on Thursday, June 9th. They issued a “buy” rating and a $66.00 price objective for the company. Finally, Sidoti decreased their price objective on shares of HSN from $62.00 to $58.00 and set a “buy” rating for the company in a report on Wednesday, September 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. HSN has an average rating of “Hold” and an average target price of $58.63.
Shares of HSN (NASDAQ:HSNI) traded down 5.88% during midday trading on Tuesday, reaching $38.12. 940,152 shares of the company were exchanged. The firm’s 50 day moving average is $43.34 and its 200-day moving average is $49.48. HSN has a 52-week low of $37.34 and a 52-week high of $63.44. 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 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The firm earned $854.30 million during the quarter, compared to the consensus estimate of $871.23 million. HSN had a net margin of 4.10% and a return on equity of 117.99%. The firm’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 earnings per share. On average, equities analysts forecast that HSN will post $3.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Wednesday, September 7th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Friday, September 2nd. HSN’s dividend payout ratio is currently 50.00%.
In related news, Director Thomas Mcinerney sold 4,000 shares of HSN stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $43.51, for a total transaction of $174,040.00. Following the sale, the director now directly owns 53,669 shares in the company, valued at $2,335,138.19. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.
Large investors have recently modified their holdings of the stock. 1st Global Advisors Inc. boosted its stake in shares of HSN by 1.6% in the second quarter. 1st Global Advisors Inc. now owns 8,621 shares of the company’s stock worth $422,000 after buying an additional 132 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of HSN by 0.7% in the first quarter. Loomis Sayles & Co. L P now owns 229,429 shares of the company’s stock worth $12,001,000 after buying an additional 1,492 shares in the last quarter. Zebra Capital Management LLC boosted its stake in shares of HSN by 30.3% in the first quarter. Zebra Capital Management LLC now owns 45,483 shares of the company’s stock worth $2,379,000 after buying an additional 10,571 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of HSN by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 921,943 shares of the company’s stock worth $48,227,000 after buying an additional 14,512 shares in the last quarter. Finally, Scotia Capital Inc. bought a new stake in shares of HSN during the first quarter worth $357,000. Institutional investors and hedge funds own 63.82% of the company’s stock.
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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