H&M: UBS maintains neutral rating after results
(CercleFinance.com) - H&M reported a larger-than-expected decline in Q3 operating profit on Thursday.
The Swedish clothing giant's operating profit for June-August fell to 3 billion Swedish kronor, less than half the 6.3 billion Swedish kronor a year ago, while UBS analysts were expecting 4.9 billion Swedish kronor.
Following this announcement, UBS confirms its neutral rating on the stock with a target price of 129 Swedish kronor.
Analysts say that it reported a gross margin of 49.0% in Q3, which was 50.4% excluding one-off costs related to Russia (UBSe underlying 51.4%, consensus 51.4%). Operating profit in Q3 was 902 million Swedish kronor, or 1.6% (UBS 2,916 million Swedish kronor, margin 4.9%).
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The Swedish clothing giant's operating profit for June-August fell to 3 billion Swedish kronor, less than half the 6.3 billion Swedish kronor a year ago, while UBS analysts were expecting 4.9 billion Swedish kronor.
Following this announcement, UBS confirms its neutral rating on the stock with a target price of 129 Swedish kronor.
Analysts say that it reported a gross margin of 49.0% in Q3, which was 50.4% excluding one-off costs related to Russia (UBSe underlying 51.4%, consensus 51.4%). Operating profit in Q3 was 902 million Swedish kronor, or 1.6% (UBS 2,916 million Swedish kronor, margin 4.9%).
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.