Hennes & Mauritz (OTCMKTS:HNNMY) Sees Large Volume Increase – Here’s What Happened

Shares of Hennes & Mauritz AB (OTCMKTS:HNNMY) saw unusually-strong trading volume on Wednesday. Approximately 123,535 shares were traded during mid-day trading, a decline of 30% from the previous session’s volume of 176,981 shares. The stock last traded at $3.2625 and had previously closed at $3.20.

Wall Street Analysts Forecast Growth

HNNMY has been the topic of several recent analyst reports. Pareto Securities downgraded Hennes & Mauritz to a “sell” rating in a research note on Friday, June 26th. Citigroup reissued a “neutral” rating on shares of Hennes & Mauritz in a research note on Tuesday, August 18th. Finally, Zacks Research raised Hennes & Mauritz from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Four analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hennes & Mauritz currently has a consensus rating of “Reduce”.

Hennes & Mauritz Stock Performance

The stock has a market cap of $22.82 billion, a price-to-earnings ratio of 19.12 and a beta of 1.17. The company has a current ratio of 1.13, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm has a fifty day simple moving average of $3.46 and a 200 day simple moving average of $3.49.

Hennes & Mauritz (OTCMKTS:HNNMY) last posted its earnings results on Wednesday, September 23rd. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. Hennes & Mauritz had a net margin of 5.94% and a return on equity of 33.70%. The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.84 billion. As a group, sell-side analysts expect that Hennes & Mauritz AB will post 0.17 earnings per share for the current year.

Hennes & Mauritz Company Profile

Hennes & Mauritz AB, commonly known as H&M, is a Sweden-based fashion and retail company that sells clothing, accessories, footwear, beauty products and home furnishings. Its offerings are marketed through physical stores and digital sales channels, with products designed for women, men, teenagers and children.

Founded in 1947 by Erling Persson as a women’s clothing store called Hennes, the company later expanded into menswear and became Hennes & Mauritz following the acquisition of Mauritz Widforss in 1968.