Equities Analysts Set Expectations for Loblaw Companies Ltd’s FY2018 Earnings (L)

Equities Analysts Set Expectations for Loblaw Companies Ltd’s FY2018 Earnings (L)

Loblaw Companies Ltd (TSE:L) – Equities researchers at Desjardins raised their FY2018 earnings estimates for shares of Loblaw Companies in a note issued to investors on Thursday, November 15th. Desjardins analyst K. Howlett now anticipates that the company will post earnings of $4.55 per share for the year, up from their prior estimate of $4.38. Desjardins currently has a “Buy” rating and a $66.00 price target on the stock. Desjardins also issued estimates for Loblaw Companies’ Q4 2018 earnings at $1.01 EPS and FY2019 earnings at $4.19 EPS.

Several other equities research analysts have also recently weighed in on the company. Barclays upped their price target on Loblaw Companies from C$71.00 to C$75.00 and gave the company a “c$69.40” rating in a research report on Monday, July 23rd. Raymond James upped their price target on Loblaw Companies from C$82.00 to C$85.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. National Bank Financial upped their price target on Loblaw Companies from C$71.00 to C$72.00 and gave the company a “reduce” rating in a research report on Thursday, July 26th. CIBC upped their price target on Loblaw Companies from C$78.00 to C$81.00 in a research report on Thursday, July 26th. Finally, TD Securities upped their price target on Loblaw Companies from C$81.00 to C$82.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of C$68.22.

TSE L opened at C$58.75 on Monday. Loblaw Companies has a 52 week low of C$50.22 and a 52 week high of C$59.40. The company has a current ratio of 1.14, a quick ratio of 0.62 and a debt-to-equity ratio of 123.69.

In related news, insider Garry Senecal sold 765 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of C$67.60, for a total value of C$51,714.00. Also, Director Robert Sawyer acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The stock was bought at an average price of C$69.29 per share, for a total transaction of C$138,580.00. Over the last quarter, insiders have sold 20,765 shares of company stock worth $1,431,114.

About Loblaw Companies

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy, health and beauty, apparel, general merchandise, credit card, insurance brokerage, gift card, and telecommunication services in Canada. It operates through three segments: Retail, Financial Services, and Choice Properties.

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