Scotiabank Boosts Hudson's Bay Co (HBC) Price Target to C$13.00
Several other equities analysts have also recently weighed in on HBC. Canaccord Genuity decreased their price objective on Hudson's Bay Co from C$11.00 to C$9.00 and set a hold rating for the company in a report on Thursday. CIBC raised their price objective on Hudson's Bay Co from C$10.50 to C$12.50 in a report on Thursday. Royal Bank Of Canada restated a sector perform rating and issued a C$9.00 price objective on shares of Hudson's Bay Co in a report on Wednesday, August 30th. National Bank Financial raised their price objective on Hudson's Bay Co from C$10.00 to C$13.00 and gave the company a sector perform rating in a report on Thursday. Finally, TD Securities decreased 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 report on Friday, June 9th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of C$14.22.
Shares of Hudson's Bay Co (TSE:HBC) opened at 12.66 on Thursday. Hudson's Bay Co has a 1-year low of $8.08 and a 1-year high of $17.67. The company’s market cap is $2.31 billion. The stock’s 50 day moving average price is $11.09 and its 200 day moving average price is $10.99.
Hudson's Bay Co (TSE:HBC) last announced its quarterly earnings data 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. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.20 billion. Hudson's Bay Co had a negative net margin of 6.90% and a negative return on equity of 37.88%. Equities research analysts forecast that Hudson's Bay Co will post ($2.04) earnings per share for the current year.
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In related news, insider Marc Jeffrey Metrick sold 5,000 shares of Hudson's Bay Co stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of C$11.25, for a total transaction of C$56,250.00. Insiders have sold 11,101 shares of company stock valued at $124,467 in the last quarter.
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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