Hudson's Bay Co (HBC) Price Target Cut to C$9.00

Hudson's Bay Co (TSE:HBC) had its price target lowered by 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.

Several other equities analysts have also recently commented on the company. BMO Capital Markets restated an outperform rating and set a C$31.00 target price on shares of Hudson's Bay Co in a research report on Tuesday, May 23rd. TD Securities boosted their target price on Hudson's Bay Co from C$10.00 to C$12.50 and gave the stock a hold rating in a research report on Friday, July 21st. Goldman Sachs Group, Inc. (The) restated a neutral rating on shares of Hudson's Bay Co in a research report on Wednesday, May 10th. National Bank Financial reduced their target price on Hudson's Bay Co from C$12.00 to C$10.00 in a research report on Monday, June 12th. Finally, Scotiabank reduced their target price 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 report on Tuesday, June 13th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of C$14.22.

Shares of Hudson's Bay Co (TSE:HBC) opened at 12.66 on Thursday. 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 has a 12-month low of $8.08 and a 12-month high of $17.67. The firm’s market capitalization is $2.31 billion.

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 analysts’ consensus estimates 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 company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.20 billion. Equities research analysts expect that Hudson's Bay Co will post ($2.04) earnings per share for the current year.

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In other news, insider Marc Jeffrey Metrick sold 5,000 shares of the company’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of C$11.25, for a total value of C$56,250.00. Insiders sold a total of 11,101 shares of company stock valued at $124,467 over the last quarter.

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.

Analyst Recommendations for Hudson's Bay Co (TSE:HBC)

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