Kingfisher (OTCMKTS:KGFHY) Shares Gap Down - What's Next?

Key Points

• Kingfisher PLC shares gapped down at the start of trading, opening at $8.04 after a previous close of $8.26, and last traded at $8.03.
• Recent analyst ratings reflect a cautious outlook, with Deutsche Bank downgrading the stock from a "buy" to a "hold," while three analysts now rate it as "Hold" and two as "Sell," leading to a consensus rating of "Reduce."
• The company has declared a dividend of $0.0908 per share, with an ex-dividend date of October 10th, representing a substantial dividend yield of 369.0%.

Kingfisher PLC (OTCMKTS:KGFHY - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $8.26, but opened at $8.04. Kingfisher shares last traded at $8.03, with a volume of 4,602 shares.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group began coverage on shares of Kingfisher in a research note on Monday, July 28th. They issued a "neutral" rating on the stock. Deutsche Bank Aktiengesellschaft cut shares of Kingfisher from a "buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Kingfisher currently has a consensus rating of "Reduce".

Kingfisher Stock Down 1.9%

The company's fifty day moving average price is $7.24 and its two-hundred day moving average price is $7.35.

Kingfisher Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, November 19th. Investors of record on Monday, October 13th will be paid a $0.0908 dividend. The ex-dividend date is Friday, October 10th. This represents a dividend yield of 369.0%.

About Kingfisher

Kingfisher plc, together with its subsidiaries, supplies home improvement products and services primarily in the United Kingdom, Ireland, France, and internationally. It also operates retail stores under the B&Q, Castorama, Brico Dépôt, Screwfix, TradePoint, and Koçtas brands. The company sells its products through stores and e-commerce channels.

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