Raymond James Financial Lowers Horizon North Logistics (HNL) to Market Perform

Raymond James Financial downgraded shares of Horizon North Logistics (TSE:HNL) from an outperform rating to a market perform rating in a research note issued to investors on Tuesday. They currently have C$1.60 price objective on the stock, down from their previous price objective of C$2.15.

HNL has been the topic of a number of other research reports. Beacon Securities reaffirmed a buy rating on shares of Horizon North Logistics in a research report on Wednesday, September 13th. National Bank Financial dropped their target price on shares of Horizon North Logistics from C$2.40 to C$1.90 and set an outperform rating on the stock in a research report on Monday, December 11th. Finally, Scotiabank set a C$1.50 target price on shares of Horizon North Logistics and gave the stock an underperform rating in a research report on Tuesday.

Shares of Horizon North Logistics (TSE HNL) traded down C$0.03 during mid-day trading on Tuesday, reaching C$1.55. 133,441 shares of the company were exchanged, compared to its average volume of 126,955. Horizon North Logistics has a fifty-two week low of C$1.16 and a fifty-two week high of C$2.35. The company has a market capitalization of $224.25, a price-to-earnings ratio of -19.38 and a beta of 1.34.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 5.16%. The ex-dividend date is Thursday, December 28th. Horizon North Logistics’s dividend payout ratio (DPR) is presently -100.00%.

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About Horizon North Logistics

Horizon North Logistics Inc (Horizon North) is a Canada-based is a remote resource development service company. The Company provides workforce accommodation solutions, camp management and catering services, and road and access matting solutions. The Company’s segments include Camps & Catering, Matting and Corporate.

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