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

Key Points

• Kingfisher PLC shares gapped up on Wednesday, opening at $8.24 after closing at $7.95.
• UBS Group has a "neutral" rating while Deutsche Bank downgraded the stock from "buy" to "hold," resulting in an average rating of "Reduce" from analysts.
• The company has declared a dividend of $0.0908, yielding 369.0%, to be paid on November 19th to investors of record as of October 13th.

Kingfisher PLC (OTCMKTS:KGFHY - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $7.95, but opened at $8.24. Kingfisher shares last traded at $8.25, with a volume of 5,916 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. UBS Group assumed coverage on Kingfisher in a research report on Monday, July 28th. They set a "neutral" rating on the stock. Deutsche Bank Aktiengesellschaft cut Kingfisher from a "buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Kingfisher has an average rating of "Reduce".

Kingfisher Trading Up 3.3%

The business has a 50-day moving average price of $7.42 and a 200-day moving average price of $7.46.

Kingfisher Cuts Dividend

The business 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 of this dividend is Friday, October 10th. This represents a 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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