CIBC Boosts Hudson's Bay Co (HBC) Price Target to C$12.50
Hudson's Bay Co (TSE:HBC) had its price objective increased by CIBC from C$10.50 to C$12.50 in a report released on Thursday. CIBC’s price objective would suggest a potential upside of 2.54% from the stock’s current price.
Other research analysts have also issued reports about the company. Scotiabank dropped their price objective on Hudson's Bay Co from C$13.00 to C$12.00 and set a “sector perform” rating for the company in a research note on Tuesday, June 13th. Royal Bank Of Canada reiterated a “sector perform” rating and set a C$13.00 price objective on shares of Hudson's Bay Co in a research note on Monday, June 5th. BMO Capital Markets reiterated an “outperform” rating and set a C$28.00 price objective on shares of Hudson's Bay Co in a research note on Monday, June 12th. Canaccord Genuity dropped their price objective on Hudson's Bay Co from C$12.00 to C$11.00 and set a “hold” rating for the company in a research note on Tuesday, June 6th. Finally, TD Securities dropped their price objective on Hudson's Bay Co from C$12.00 to C$10.00 and set a “hold” rating for the company in a research note on Friday, June 9th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Hudson's Bay Co presently has a consensus rating of “Hold” and an average target price of C$14.44.
Shares of Hudson's Bay Co (TSE HBC) traded up 3.45% during mid-day trading on Thursday, hitting $12.61. 1,100,311 shares of the company were exchanged. The stock’s market cap is $2.30 billion. The stock’s 50-day moving average price is $10.98 and its 200 day moving average price is $10.97. Hudson's Bay Co has a 12-month low of $8.08 and a 12-month high of $17.67.
Hudson's Bay Co (TSE:HBC) last released its quarterly earnings data on Thursday, June 8th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by $0.49. Hudson's Bay Co had a negative return on equity of 37.88% and a negative net margin of 6.90%. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.20 billion. On average, equities analysts anticipate that Hudson's Bay Co will post ($1.93) EPS for the current fiscal year.
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In other news, insider Marc Jeffrey Metrick sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of C$11.12, for a total value of C$55,600.00. Over the last 90 days, insiders sold 11,101 shares of company stock valued at $124,467.
Hudson's Bay Co Company Profile
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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