Loblaw Companies Limited (TSE:L) has been assigned an average rating of “Buy” from the eight brokerages that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$81.86.
Several equities research analysts have issued reports on L shares. National Bankshares raised their price target on Loblaw Companies from C$76.00 to C$77.00 and gave the company an “outperform” rating in a report on Thursday, May 6th. Scotiabank lifted their target price on Loblaw Companies from C$72.00 to C$73.00 in a report on Thursday, May 6th. CIBC lifted their target price on Loblaw Companies from C$78.00 to C$87.00 in a report on Thursday, May 6th. National Bank Financial lifted their target price on Loblaw Companies to C$77.00 and gave the stock an “outperform” rating in a report on Thursday, May 6th. Finally, TD Securities raised Loblaw Companies from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$76.00 to C$80.00 in a report on Thursday, May 6th.
In other Loblaw Companies news, Director Willard Galen Garfield Weston sold 14,119 shares of the business’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of C$62.06, for a total value of C$876,179.96. Following the transaction, the director now directly owns 177,035 shares of the company’s stock, valued at C$10,986,225.59. Also, Senior Officer Jocyanne C. Bourdeau sold 4,487 shares of the business’s stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of C$62.06, for a total value of C$278,448.86. Over the last ninety days, insiders sold 31,778 shares of company stock worth $2,082,713.
L opened at C$71.19 on Wednesday. The company has a fifty day simple moving average of C$69.61 and a 200 day simple moving average of C$65.56. The firm has a market cap of C$24.36 billion and a price-to-earnings ratio of 21.58. The company has a current ratio of 1.35, a quick ratio of 0.68 and a debt-to-equity ratio of 149.79. Loblaw Companies has a twelve month low of C$60.86 and a twelve month high of C$72.00.
Loblaw Companies (TSE:L) last announced its quarterly earnings results on Thursday, February 25th. The company reported C$1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.24 by C$0.02. The business had revenue of C$13.29 billion during the quarter, compared to the consensus estimate of C$13 billion. On average, analysts forecast that Loblaw Companies will post 5.4599998 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Tuesday, June 15th will be paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Monday, June 14th. Loblaw Companies’s dividend payout ratio is currently 39.41%.
About Loblaw Companies
Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores.