Horizon North Logistics (TSE:HNL) Downgraded by Raymond James Financial

Raymond James Financial downgraded shares of Horizon North Logistics (TSE:HNL) from a market perform rating to an underperform rating in a research note released on Tuesday, April 10th. The firm currently has C$1.70 target price on the stock, up from their prior target price of C$1.60.

Several other equities research analysts have also recently weighed in on the company. TD Securities upped their price target on Horizon North Logistics from C$3.00 to C$3.25 and gave the company a buy rating in a research report on Tuesday, April 10th. National Bank Financial upped their price objective on shares of Horizon North Logistics from C$2.40 to C$2.75 and gave the stock an outperform rating in a research report on Tuesday, April 10th. Clarus Securities restated a buy rating on shares of Horizon North Logistics in a research report on Thursday, March 15th. Finally, Scotiabank upgraded shares of Horizon North Logistics from an underperform rating to a sector perform rating and upped their price objective for the stock from C$1.50 to C$2.25 in a research report on Thursday, March 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of C$2.49.

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Shares of HNL traded up C$0.02 during midday trading on Tuesday, hitting C$2.39. 90,133 shares of the company traded hands, compared to its average volume of 383,610. Horizon North Logistics has a one year low of C$1.16 and a one year high of C$2.43.

Horizon North Logistics (TSE:HNL) last announced its quarterly earnings results on Tuesday, March 13th. The company reported C($0.03) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of C($0.03). Horizon North Logistics had a negative return on equity of 7.80% and a negative net margin of 7.76%. The firm had revenue of C$82.66 million for the quarter, compared to analysts’ expectations of C$80.45 million.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 12th. Stockholders of record on Saturday, March 31st were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Wednesday, March 28th.

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About Horizon North Logistics

Horizon North Logistics Inc, a remote resource development service company, provides workforce accommodation solutions, camp management and catering services, and road and access matting solutions. It operates through two segments, Camps & Catering, and Rentals & Logistics. The Camps & Catering segment offers workforce accommodation, camp rental, and catering services; and manufactures and sells camps, as well as provides related transportation and installation services.

Analyst Recommendations for Horizon North Logistics (TSE:HNL)

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