NEXT (LON:NXT) Given New £132 Price Target at Citigroup

NEXT (LON:NXT) had its target price lowered by Citigroup from £135.42 to £132 in a report released on Wednesday, MarketBeat reports. The firm currently has a neutral rating on the stock.

Several other research firms have also recently issued reports on NXT. Berenberg Bank reiterated a “buy” rating and issued a £180 price objective on shares of NEXT in a research report on Friday, March 27th. Jefferies Financial Group restated a “hold” rating and issued a £140 price target on shares of NEXT in a research report on Wednesday, January 7th. UBS Group restated a “buy” rating and issued a £152 price target on shares of NEXT in a research report on Wednesday, March 25th. Shore Capital Group restated a “buy” rating on shares of NEXT in a research report on Thursday, March 26th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of NEXT in a research report on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of £140.98.

NEXT Stock Performance

LON:NXT opened at £133.15 on Wednesday. The stock has a fifty day moving average price of £128.62 and a two-hundred day moving average price of £132.96. The stock has a market capitalization of £15.27 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 5.66 and a beta of 1.08. The company has a debt-to-equity ratio of 108.79, a quick ratio of 1.07 and a current ratio of 1.76. NEXT has a 1 year low of £109.30 and a 1 year high of £146.40.

NEXT (LON:NXT) last released its quarterly earnings data on Thursday, March 26th. The company reported GBX 760.10 earnings per share (EPS) for the quarter. NEXT had a return on equity of 52.86% and a net margin of 12.87%. As a group, sell-side analysts anticipate that NEXT will post 660.7526882 earnings per share for the current fiscal year.

NEXT News Summary

Here are the key news stories impacting NEXT this week:

• Neutral Sentiment: Multiple media items refer to WWE’s NXT programming and event fallout — entertainment coverage unrelated to NEXT plc’s retail business; unlikely to affect the stock beyond name confusion for some readers. WWE NXT Results 4/7 Stand & Deliver coverage
• Negative Sentiment: Broker note — Citigroup cut its NEXT price target from £135.42 to £132 and set a “neutral” rating, which is a modest negative signal from a large bank and could cap upward momentum or pressure sentiment among institutional holders. Citigroup downgrade report

NEXT Company Profile

Founded as a tailoring business in Leeds in 1864 by Joseph Hepworth and Son, today, the company offers clothing, footwear, accessories, beauty and home products to our UK and International customers.

NEXT has over 500 stores in the United Kingdom and Eire, and over 180 franchise branches across Europe, Asia and the Middle East. The company’s main divisions are NEXT Online, NEXT Retail and NEXT Finance. We also launched Total Platform, an online, distribution, tech and logistics solution, in 2020.