Hudson's Bay Co (HBC) Price Target Cut to C$9.00
Hudson's Bay Co (TSE:HBC) had its price target decreased by stock analysts at Canaccord Genuity from C$11.00 to C$9.00 in a research note issued to investors on Thursday. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity’s price target would suggest a potential downside of 30.82% from the stock’s previous close.
Other equities analysts have also issued research reports about the company. CIBC lifted their price target on Hudson's Bay Co from C$10.50 to C$12.50 in a research note on Thursday. Scotiabank cut their price target 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 restated a “sector perform” rating and issued a C$13.00 price target on shares of Hudson's Bay Co in a research note on Monday, June 5th. BMO Capital Markets restated an “outperform” rating and issued a C$28.00 price target on shares of Hudson's Bay Co in a research note on Monday, June 12th. Finally, TD Securities cut their price target 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 assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of C$14.22.
Shares of Hudson's Bay Co (TSE HBC) traded down 2.15% during mid-day trading on Thursday, reaching $12.73. The company’s stock had a trading volume of 170,598 shares. The firm’s market cap is $2.32 billion. The firm’s 50-day moving average price is $11.04 and its 200 day moving average price is $10.98. 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 announced its quarterly earnings results on Thursday, June 8th. The company reported ($1.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.70) by $0.49. Hudson's Bay Co had a negative net margin of 6.90% and a negative return on equity of 37.88%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.20 billion. On average, analysts expect that Hudson's Bay Co will post ($2.04) EPS for the current year.
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In other Hudson's Bay Co news, insider Marc Jeffrey Metrick sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of C$11.25, for a total transaction of C$56,250.00. Over the last quarter, insiders have 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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