Safeway Upgraded to “Outperform” by Credit Suisse (SWY)
Safeway (NYSE:SWY) was upgraded by investment analysts at Credit Suisse to an “outperform” rating in a note issued to investors on Friday, StockRatingsNetwork.com reports.
Several other analysts have also recently commented on the stock. Analysts at Wolfe Research upgraded shares of Safeway (NYSE:SWY) to an “outperform” rating in a research note to investors on Monday, August 19th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Safeway (NYSE:SWY) in a research note to investors on Friday, August 16th. They now have a $28.00 price target on the stock. Finally, analysts at BB&T Corp. raised their price target on shares of Safeway (NYSE:SWY) from $29.00 to $30.00 in a research note to investors on Thursday, August 15th. They now have a “buy” rating on the stock.
Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $26.27.
Safeway (NYSE:SWY) opened at 26.59 on Friday. Safeway has a 52-week low of $15.00 and a 52-week high of $28.42. The stock’s 50-day moving average is $25.91 and its 200-day moving average is $24.85. The company has a market cap of $6.347 billion and a price-to-earnings ratio of 12.10.
Safeway (NYSE:SWY) last announced its earnings results on Thursday, July 18th. The company reported $0.51 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.50 by $0.01. The company had revenue of $8.70 billion for the quarter, compared to the consensus estimate of $10.45 billion. During the same quarter last year, the company posted $0.50 earnings per share. Safeway’s revenue was down 1.6% compared to the same quarter last year. Analysts expect that Safeway will post $1.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 10th. Shareholders of record on Thursday, September 19th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Tuesday, September 17th.
In other Safeway news, SVP Robert A. Gordon sold 20,000 shares of Safeway stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $25.89, for a total transaction of $517,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Safeway Inc (NYSE:SWY) is a food and drug retailer in North America.
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