Hudson's Bay Co (HBC) Releases Earnings Results, Misses Estimates By $0.49 EPS

Xavier Trudeau
Juin 19, 2017

June 19 USA activist investor Land & Buildings Investment Management LLC on Monday urged the management of Saks Fifth Avenue owner Hudson's Bay Co to explore options including the sale of its real estate assets and taking the company private. The firm has a 50-day moving average price of $10.25 and a 200-day moving average price of $11.34. Hudson's Bay Co has a 1-year low of $8.08 and a 1-year high of $18.60. BMO Capital Markets now has a C$28.00 target price on the stock. The company reported ($1.19) EPS for the quarter, missing analysts' consensus estimates of ($0.70) by $0.49. Canaccord Genuity lowered their price target on shares of Hudson's Bay Co from C$12.00 to C$11.00 and set a hold rating on the stock in a report on Tuesday, June 6th. Hudson's Bay closed at C$8.88 last Friday. Finally, CIBC boosted their price objective on shares of Hudson's Bay Co from C$12.50 to C$14.00 in a report on Thursday, April 6th. The company has an average rating of "Hold" and a consensus price target of C$13.50. (The) restated a neutral rating on shares of Hudson's Bay Co in a report on Wednesday, May 10th. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.20 billion.

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"You have to change both the company, the operating side of things, as well as developing the real estate - which takes capital expenditures, as well". 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.

Some number crunching from L&B on the real estate held by Hudson's Bay leads to a valuation of C$35 per share.

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