Loblaw Companies (TSE:L) had its target price increased by National Bank Financial from C$69.00 to C$71.00 in a research note released on Thursday morning, BayStreet.CA reports. They currently have a sector perform rating on the stock. National Bank Financial also issued estimates for Loblaw Companies’ Q2 2019 earnings at $1.05 EPS, Q3 2019 earnings at $1.40 EPS, Q1 2020 earnings at $0.89 EPS, Q2 2020 earnings at $1.14 EPS, Q3 2020 earnings at $1.52 EPS, Q4 2020 earnings at $1.32 EPS and FY2020 earnings at $4.87 EPS.
L has been the topic of a number of other reports. BMO Capital Markets lifted their price objective on shares of Loblaw Companies from C$70.00 to C$83.00 in a report on Friday, February 22nd. Raymond James reiterated an outperform rating and issued a C$71.00 price objective on shares of Loblaw Companies in a report on Friday, February 22nd. TD Securities lifted their price objective on shares of Loblaw Companies from C$69.00 to C$75.00 and gave the company a buy rating in a report on Tuesday, January 15th. Desjardins downgraded shares of Loblaw Companies from a buy rating to a hold rating and boosted their target price for the stock from C$66.00 to C$70.00 in a report on Friday, February 22nd. Finally, CIBC boosted their target price on shares of Loblaw Companies from C$70.00 to C$76.00 in a report on Friday, February 22nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of C$73.00.
Shares of L opened at C$66.36 on Thursday. The company has a debt-to-equity ratio of 73.88, a quick ratio of 0.65 and a current ratio of 1.34. Loblaw Companies has a twelve month low of C$50.22 and a twelve month high of C$67.44. The company has a market capitalization of $24.67 billion and a price-to-earnings ratio of 33.28.
Loblaw Companies (TSE:L) last announced its quarterly earnings results on Thursday, February 21st. The company reported C$1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$1.05 by C($0.02). The business had revenue of C$11.22 billion for the quarter, compared to analysts’ expectations of C$11.28 billion. Analysts anticipate that Loblaw Companies will post 4.77999978351977 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.295 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.78%. Loblaw Companies’s payout ratio is presently 57.92%.
In other news, Director Willard Galen Garfield Weston sold 28,222 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of C$65.15, for a total value of C$1,838,533.48. Following the completion of the sale, the director now owns 159,643 shares of the company’s stock, valued at C$10,400,007.09. Also, Senior Officer Jocyanne C. Bourdeau sold 12,577 shares of the business’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of C$65.50, for a total transaction of C$823,793.50. In the last three months, insiders sold 43,363 shares of company stock valued at $2,829,360.
Loblaw Companies Company Profile
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 comprising in-store pharmacies, other health and beauty product stores, apparel stores, and other general merchandise stores, as well as supports the PC Optimum reward program.
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