HSBC Holdings plc Reaffirms Reduce Rating for NEXT plc (NXT)

HSBC Holdings plc restated their reduce rating on shares of NEXT plc (LON:NXT) in a report published on Wednesday. They currently have a GBX 3,530 ($43.60) target price on the stock.

NXT has been the topic of a number of other reports. Shore Capital reissued a sell rating on shares of NEXT plc in a report on Tuesday, February 14th. Investec lowered their price target on shares of NEXT plc from GBX 4,580 ($56.56) to GBX 3,900 ($48.17) and set a sell rating on the stock in a report on Wednesday, January 4th. Citigroup Inc lowered their price target on shares of NEXT plc from GBX 4,800 ($59.28) to GBX 4,180 ($51.62) and set a neutral rating on the stock in a report on Thursday, January 5th. Jefferies Group LLC lowered their price target on shares of NEXT plc from GBX 4,600 ($56.81) to GBX 3,500 ($43.23) and set a hold rating on the stock in a report on Tuesday, February 28th. Finally, Deutsche Bank AG lowered their price target on shares of NEXT plc from GBX 5,300 ($65.46) to GBX 4,900 ($60.52) and set a  hold rating on the stock in a report on Thursday, January 5th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of GBX 4,687.52 ($57.89).

NEXT plc (LON:NXT) opened at 4167.00 on Wednesday. NEXT plc has a 1-year low of GBX 3,550.00 and a 1-year high of GBX 6,300.00. The company’s 50 day moving average is GBX 3,909.59 and its 200-day moving average is GBX 4,533.61. The stock’s market capitalization is GBX 6.04 billion.

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The firm also recently announced a dividend, which will be paid on Tuesday, May 2nd. Stockholders of record on Thursday, April 6th will be given a GBX 45 ($0.56) dividend. This represents a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, April 6th.

In other NEXT plc news, insider Jonathan Bewes bought 1,750 shares of NEXT plc stock in a transaction dated Thursday, January 26th. The stock was acquired at an average cost of GBX 3,832 ($47.33) per share, for a total transaction of £67,060 ($82,820.80). Also, insider Steve Barber bought 2,500 shares of NEXT plc stock in a transaction dated Friday, January 6th. The stock was acquired at an average price of GBX 4,101 ($50.65) per share, with a total value of £102,525 ($126,620.97). Insiders bought 5,500 shares of company stock valued at $22,021,000 over the last quarter.

NEXT plc Company Profile

NEXT plc is a United Kingdom-based retailer offering clothing, footwear, accessories and home products. The Company’s segments include NEXT Retail, a chain of over 500 stores in the United Kingdom and Eire; NEXT Directory, an online and catalogue shopping business with over four million active customers and international Websites serving approximately 70 countries; NEXT International Retail, with approximately 200 mainly franchised stores; NEXT Sourcing, which designs and sources NEXT branded products; Lipsy, which designs and sells Lipsy branded younger women’s fashion products, and Property Management, which holds properties and property leases which are sub-let to other segments and external parties.

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