Loblaw Companies Limited Receives Average Rating of “Buy” from Brokerages (TSE:L)
Loblaw Companies Limited (TSE:L) has been given an average recommendation of “Buy” by the ten analysts that are currently covering the company, American Banking & Market News reports. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$55.22.
Several analysts have recently commented on the stock. Analysts at Scotiabank downgraded shares of Loblaw Companies Limited to a “sector perform” rating in a research note on Friday. Finally, analysts at National Bank Financial raised their price target on shares of Loblaw Companies Limited from C$51.00 to C$54.00 in a research note on Thursday, May 1st. They now have an “outperform” rating on the stock.
Loblaw Companies Limited (TSE:L) traded down 0.14% during mid-day trading on Monday, hitting $49.37. 198,362 shares of the company’s stock traded hands. Loblaw Companies Limited has a one year low of $40.82 and a one year high of $50.04. The stock’s 50-day moving average is $47.56 and its 200-day moving average is $45.84. The company has a market cap of $13.912 billion and a P/E ratio of 24.72.
Loblaw Companies Limited (TSE:L) last announced its earnings results on Thursday, May 1st. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. On average, analysts predict that Loblaw Companies Limited will post $2.87 earnings per share for the current fiscal year.
Loblaw Companies Limited is a food distributor and a provider of drugstore, general merchandise and financial products and services.
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