HSN, Inc. (HSNI) Downgraded by Sidoti
HSN, Inc. (NASDAQ:HSNI) was downgraded by equities research analysts at Sidoti from a “buy” rating to a “neutral” rating in a report issued on Thursday, The Fly reports.
HSNI has been the topic of several other research reports. Zacks Investment Research lowered HSN from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 25th. Maxim Group set a $46.00 target price on HSN and gave the stock a “buy” rating in a research note on Thursday, May 4th. Craig Hallum set a $40.00 target price on HSN and gave the stock a “hold” rating in a research note on Thursday, May 4th. Aegis began coverage on HSN in a research note on Tuesday, April 11th. They set a “hold” rating and a $41.00 target price on the stock. Finally, ValuEngine lowered HSN from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $44.63.
Shares of HSN (HSNI) traded up 26.84% on Thursday, hitting $39.70. The company had a trading volume of 10,529,335 shares. HSN has a 12-month low of $30.75 and a 12-month high of $54.03. The firm has a market capitalization of $2.08 billion, a P/E ratio of 18.82 and a beta of 1.30. The firm has a 50 day moving average of $33.04 and a 200-day moving average of $35.22.
HSN (NASDAQ:HSNI) last issued its quarterly earnings results on Wednesday, May 3rd. The specialty retailer reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. HSN had a return on equity of 72.70% and a net margin of 3.15%. The firm had revenue of $785.40 million during the quarter, compared to analysts’ expectations of $785.22 million. During the same period in the prior year, the firm posted $0.54 earnings per share. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, equities analysts predict that HSN will post $2.42 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.53%. The ex-dividend date was Monday, June 5th. HSN’s dividend payout ratio is currently 66.67%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in HSN by 23,031.4% in the first quarter. BlackRock Inc. now owns 3,240,483 shares of the specialty retailer’s stock valued at $120,222,000 after buying an additional 3,226,474 shares during the period. Norges Bank purchased a new stake in shares of HSN during the fourth quarter worth approximately $20,430,000. Point72 Asset Management L.P. purchased a new stake in shares of HSN during the first quarter worth approximately $16,834,000. Highbridge Capital Management LLC purchased a new stake in shares of HSN during the fourth quarter worth approximately $10,112,000. Finally, Foresters Investment Management Company Inc. purchased a new stake in shares of HSN during the first quarter worth approximately $9,124,000. 59.70% 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 merchandise directly to consumers through various platforms, including television home shopping programing broadcast on the HSN television networks and other direct-response television marketing; catalogs, consisting of the Cornerstone portfolio of print catalogs, which includes, Ballard Designs, Frontgate, Garnet Hill, Grandin Road and Improvements; Websites, which consist primarily of HSN.com, joymangano.com and the five branded Websites operated by Cornerstone; mobile devices; retail and outlet stores, and wholesale distribution of certain products to other retailers.
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