Hammerson (LON:HMSO) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Hammerson Plc's stock price exceeded its 200-day moving average during Thursday trading, reaching a high of GBX 291 ($3.87) before closing at GBX 290.40 ($3.86).
• Citigroup has lowered its price target for Hammerson from GBX 421 to GBX 385 while maintaining a "buy" rating, reflecting a consensus among analysts.
• The company reported a quarterly earnings per share of GBX 16.20, but also noted a negative net margin of 346.30% and a negative return on equity of 25.94%.

Hammerson Plc (LON:HMSO - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 278.30 ($3.70) and traded as high as GBX 291 ($3.87). Hammerson shares last traded at GBX 290.40 ($3.86), with a volume of 1,299,746 shares traded.

Analysts Set New Price Targets

Separately, Citigroup decreased their price objective on shares of Hammerson from GBX 421 to GBX 385 and set a "buy" rating for the company in a report on Monday, July 28th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of GBX 385.

Hammerson Price Performance

The firm's fifty day moving average price is GBX 289.46 and its 200-day moving average price is GBX 278.30. The company has a debt-to-equity ratio of 80.77, a current ratio of 10.65 and a quick ratio of 1.28. The firm has a market capitalization of £1.54 billion, a P/E ratio of 2,074.29, a PEG ratio of 1.68 and a beta of 2.30.

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

Hammerson Company Profile

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.

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