Safeway Rating Reiterated by Deutsche Bank (SWY)
Safeway (NYSE:SWY)‘s stock had its “buy” rating reiterated by investment analysts at Deutsche Bank in a note issued to investors on Wednesday, AnalystRatings.Net reports. They currently have a $40.00 price objective on the stock. Deutsche Bank’s target price points to a potential upside of 21.58% from the stock’s previous close.
In other Safeway news, SVP Jerry Tidwell sold 25,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $33.06, for a total transaction of $826,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Cantor Fitzgerald reiterated a “sell” rating on shares of Safeway in a research note to investors on Wednesday. Separately, analysts at BMO Capital Markets initiated coverage on shares of Safeway in a research note to investors on Wednesday, October 16th. They set an “outperform” rating on the stock. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Safeway in a research note to investors on Friday, October 11th. They now have a $40.00 price target on the stock, up previously from $34.00. Three analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $33.27.
Safeway (NYSE:SWY) traded up 8.88% on Wednesday, hitting $35.82. The stock had a trading volume of 12,615,207 shares. Safeway has a 52-week low of $15.00 and a 52-week high of $28.88. The stock has a 50-day moving average of $25.98 and a 200-day moving average of $24.8. The company has a market cap of $8.575 billion and a P/E ratio of 18.21.
Safeway (NYSE:SWY) last posted its quarterly earnings results on Thursday, October 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.08. The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. Analysts expect that Safeway will post $1.01 EPS for the current fiscal year.
Safeway Inc (NYSE:SWY) is a food and drug retailer in North America.
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