Hudson’s Bay (TSE:HBC) Price Target Lowered to C$10.25 at CIBC

Hudson’s Bay (TSE:HBC) had its price target reduced by CIBC from C$10.75 to C$10.25 in a research note issued to investors on Friday, BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 1.28% from the stock’s current price.

Several other research analysts also recently commented on HBC. National Bank Financial downgraded Hudson’s Bay from a “sector perform” rating to a “tender” rating and decreased their price objective for the stock from C$12.00 to C$9.45 in a research note on Tuesday, June 11th. Cowen raised their price objective on Hudson’s Bay from C$10.00 to C$12.00 in a research note on Friday, June 14th. Finally, TD Securities raised their price objective on Hudson’s Bay from C$9.50 to C$10.50 and gave the stock a “hold” rating in a research note on Friday, June 14th.

Shares of TSE HBC traded down C$0.09 during trading on Friday, hitting C$10.12. The company had a trading volume of 154,608 shares, compared to its average volume of 274,848. The stock has a 50 day simple moving average of C$9.93 and a 200 day simple moving average of C$8.56. The company has a debt-to-equity ratio of 382.71, a quick ratio of 0.06 and a current ratio of 1.06. Hudson’s Bay has a 12 month low of C$6.22 and a 12 month high of C$11.07. The firm has a market capitalization of $1.82 billion and a P/E ratio of 35.17.

Hudson’s Bay (TSE:HBC) last posted its quarterly earnings data on Thursday, June 13th. The company reported C($0.87) EPS for the quarter, missing the consensus estimate of C($0.56) by C($0.31). The firm had revenue of C$2.12 billion during the quarter, compared to analysts’ expectations of C$2.11 billion. As a group, analysts predict that Hudson’s Bay will post -1.27 EPS for the current year.

About Hudson’s Bay

Hudson's Bay Company owns and operates department stores in Canada and the United States. Its stores offers fashion apparels, accessories, cosmetics, and home products. The company operates its stores under the Hudson's Bay, Lord & Taylor, Saks Fifth Avenue, Saks OFF 5TH, Find @ Lord & Taylor, Home Outfitters, Galeria Kaufhof, Galeria INNO, and Sportarena names.

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