Dundee Securities Reiterates “Neutral” Rating for Loblaw Companies Limited (L)
Loblaw Companies Limited (TSE:L)‘s stock had its “neutral” rating reissued by research analysts at Dundee Securities in a report released on Thursday, StockTargetPrices.com reports. They currently have a C$76.00 price objective on the stock. Dundee Securities’ price target suggests a potential upside of 9.81% from the stock’s previous close.
Several other research analysts have also issued reports on L. Scotiabank reiterated a “sector perform” rating and issued a C$76.00 target price on shares of Loblaw Companies Limited in a research report on Monday, May 30th. Barclays PLC upped their price target on shares of Loblaw Companies Limited from C$77.00 to C$78.00 in a research report on Friday, July 22nd. TD Securities restated a “buy” rating and set a C$80.00 price target on shares of Loblaw Companies Limited in a research report on Tuesday, July 26th. CIBC upped their price target on shares of Loblaw Companies Limited from C$80.00 to C$81.00 in a research report on Thursday, July 28th. Finally, Desjardins upped their price target on shares of Loblaw Companies Limited from C$77.00 to C$80.00 in a research report on Thursday, July 28th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of C$79.25.
Loblaw Companies Limited (TSE:L) traded up 0.56% on Thursday, hitting $69.60. The stock had a trading volume of 291,550 shares. The company has a market cap of $28.14 billion and a P/E ratio of 44.36. Loblaw Companies Limited has a 52-week low of $61.25 and a 52-week high of $74.59. The stock’s 50-day moving average is $71.19 and its 200-day moving average is $70.79.
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The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.50%.
Loblaw Companies Limited Company Profile
Loblaw Companies Limited (Loblaw) is a Canada-based holding company. The Company, through its subsidiaries, provides grocery, pharmacy, health and beauty, apparel, general merchandise, and financial products and services. The Company operates through three segments: Retail, Financial Services and Choice Properties.
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