Loblaw Companies Limited (L) Given “Sector Perform” Rating at Scotiabank
Loblaw Companies Limited (TSE:L)‘s stock had its “sector perform” rating reissued by analysts at Scotiabank in a research note issued on Thursday, StockTargetPrices.com reports. They presently have a C$77.00 price objective on the stock. Scotiabank’s target price would indicate a potential upside of 11.26% from the stock’s current price.
A number of other equities analysts have also weighed in on L. TD Securities reiterated a “buy” rating and set a C$80.00 target price on shares of Loblaw Companies Limited in a research note on Tuesday, July 26th. Barclays PLC increased their target price on Loblaw Companies Limited from C$78.00 to C$80.00 in a research note on Thursday, July 28th. National Bank Financial increased their target price on Loblaw Companies Limited from C$74.00 to C$77.00 in a research note on Thursday, July 28th. Dundee Securities reiterated a “neutral” rating and set a C$76.00 target price on shares of Loblaw Companies Limited in a research note on Thursday. Finally, RBC Capital Markets increased their target price on Loblaw Companies Limited from C$78.00 to C$80.00 in a research note on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Loblaw Companies Limited currently has a consensus rating of “Buy” and a consensus price target of C$79.25.
Shares of Loblaw Companies Limited (TSE:L) traded up 0.56% during mid-day trading on Thursday, reaching $69.60. The company had a trading volume of 291,550 shares. Loblaw Companies Limited has a 12-month low of $61.25 and a 12-month high of $74.59. The stock has a market capitalization of $28.14 billion and a P/E ratio of 44.36. The firm’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 issued a $0.26 dividend. 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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