Hudson's Bay Co (HBC) Price Target Cut to C$12.00
Hudson's Bay Co (TSE:HBC) had its price target cut by stock analysts at Scotiabank from C$13.00 to C$12.00 in a report released on Tuesday. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 35.14% from the company’s current price.
A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a C$31.00 price objective on shares of Hudson's Bay Co in a report on Tuesday, May 23rd. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Hudson's Bay Co in a report on Wednesday, May 10th. Credit Suisse Group downgraded Hudson's Bay Co from an “outperform” rating to a “neutral” rating in a report on Friday, April 21st. CSFB downgraded Hudson's Bay Co from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from C$23.00 to C$12.00 in a report on Friday, April 21st. Finally, Royal Bank Of Canada lifted their price objective on Hudson's Bay Co from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a report on Thursday, April 6th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of C$13.50.
Shares of Hudson's Bay Co (TSE HBC) traded up 4.96% during mid-day trading on Tuesday, hitting $8.88. The stock had a trading volume of 1,351,769 shares. The stock’s market cap is $1.62 billion. Hudson's Bay Co has a one year low of $8.08 and a one year high of $18.60. The firm has a 50 day moving average of $10.25 and a 200 day moving average of $11.34.
Hudson's Bay Co (TSE:HBC) last released its quarterly earnings data on Thursday, June 8th. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by $0.49. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.20 billion. On average, analysts forecast that Hudson's Bay Co will post ($1.93) earnings per share for the current year.
About Hudson's Bay Co
Hudson’s Bay Company (HBC) is a Canada-based department store retailer. The Company is an operator and a consolidator, as well as a real estate developer. The Company’s retail portfolio includes approximately 10 banners, in formats ranging from luxury to better department stores to off price fashion shopping destinations, with over 460 stores.
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