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Summary
- Luxury goods company Hermès International SA (EPA: RMS, HESAF:US) has been trending on the stock markets for an unusual reason.
- In a recent social media post, model Lori Harvey revealed that boyfriend Michael B Jordan has bought her “stock in Hermes” as a Valentine’s Day present.
- Stocks of this Paris-based fashion enterprise were up by about a per cent on Tuesday morning, February 16, at the time of writing this.
Luxury goods company Hermès International SA (EPA: RMS, HESAF:US) has been trending on the stock markets for an unusual reason. Stocks of this Paris-based fashion enterprise were up by about a per cent on Tuesday morning, February 16, at the time of writing this.
Let’s find what exactly triggered Hermès International stock’s trending status.
Hermès International Stocks A V-Day Gift?
As you all must know, last Sunday was Valentine’s Day. While those celebrating the day fetched their loved ones different sorts of gifts, American actor Michael B Jordan reportedly went the stock lane for his V-Day present.
The Black Panther star’s girlfriend, model Lori Harvey, shared on social media pictures of all the gifts that she received from him, among which was a snap of certificate from Hermes International. In the caption, Miss Harvey wrote that Mr Jorden has bought her “stock in Hermes”. She also described it as the “best gift ever”.
©Kalkine Group 2020
Hermès International (EPA: RMS, HESAF:US)
Current Stock Price: 931 euros
Stocks of Hermès International, which are publicly listed on European stock exchange Euronext, surged over 10 per cent month-to-date (MTD) and by about 32 per cent in the last six months. The retail stock currently posts a price-to-book (P/B) ratio of 15.34, a price-to-cash flow (P/CF) ratio of 64 and price-to-earnings (P/E) ratio of 87.5, as per TMX data. Its return of equity stands at 18.32 per cent, while its return on assets is 11.97 per cent.
The luxury brand currently holds a market cap of 98.26 billion euros, as per Euronext.
Hermès International registered a consolidated revenue of 2,488 million euros and a restated net cash position of 3,922 million euros in the first half of 2020. As per the firm’s official release, its revenues for the period ending June 2020 saw a decline of about 24 per cent at the current exchange rates and of about 25 per cent at the constant exchange rates. Hermès’ recurring operating profitability reached 21.5 per cent of sales in the first six months of last year.
