Hammerson (LON:HMSO) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Hammerson Plc shares crossed above their 200-day moving average, trading as high as GBX 295 ($3.99) during Tuesday's session, with recent trading at GBX 293 ($3.96).
• Analysts have updated their forecasts, with Citigroup lowering their target price from GBX 421 to GBX 385 but still maintaining a "buy" rating on the stock.
• Hammerson reported a negative net margin of 346.30% and a negative return on equity of 25.94%, indicating significant financial challenges despite a market capitalization of £1.55 billion.

Shares of Hammerson Plc (LON:HMSO - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 275.38 ($3.72) and traded as high as GBX 295 ($3.99). Hammerson shares last traded at GBX 293 ($3.96), with a volume of 1,300,986 shares trading hands.

Analysts Set New Price Targets

Separately, Citigroup cut their target price on shares of Hammerson from GBX 421 to GBX 385 and set a "buy" rating on the stock in a research note on Monday, July 28th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of GBX 385.

Hammerson Stock Performance

The stock's fifty day moving average is GBX 291.07 and its two-hundred day moving average is GBX 275.38. The firm has a market capitalization of £1.55 billion, a price-to-earnings ratio of 2,095.71, a price-to-earnings-growth ratio of 1.68 and a beta of 2.30. The company has a debt-to-equity ratio of 80.77, a quick ratio of 1.28 and a current ratio of 10.65.

Hammerson (LON:HMSO - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported GBX 16.20 earnings per share for the quarter. Hammerson had a negative net margin of 346.30% and a negative return on equity of 25.94%. Analysts forecast that Hammerson Plc will post 20.7491639 earnings per share for the current year.

About Hammerson

Hammerson is a cities business. An owner, operator and developer of prime urban real estate, with a portfolio value of £4.7billion (as at 30 June 2023), in some of the fastest growing cities in the UK, Ireland and France. Our portfolio and adjacent lands leverage our experience and capabilities to create and manage exceptional city centre destinations with the opportunity to drive value and reshape entire neighbourhoods.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.