Loblaw Companies Ltd (TSE:L) Given Consensus Rating of “Buy” by Brokerages
Shares of Loblaw Companies Ltd (TSE:L) have received a consensus rating of “Buy” from the eleven analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$81.00.
L has been the topic of several recent research reports. Eight Capital cut their target price on shares of Loblaw Companies from C$82.00 to C$78.00 in a research note on Friday, July 21st. National Bank Financial increased their price objective on shares of Loblaw Companies from C$78.00 to C$81.00 in a research report on Thursday, May 4th. TD Securities increased their price objective on shares of Loblaw Companies from C$85.00 to C$90.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Desjardins dropped their price objective on shares of Loblaw Companies from C$85.00 to C$81.00 and set a “buy” rating on the stock in a research report on Thursday, June 22nd. Finally, BMO Capital Markets reissued a “market perform” rating and issued a C$71.00 price objective on shares of Loblaw Companies in a research report on Thursday, April 20th.
Loblaw Companies (TSE:L) traded up 0.04% during trading on Tuesday, hitting $67.93. 219,566 shares of the stock were exchanged. The stock’s 50 day moving average price is $71.86 and its 200 day moving average price is $72.24. The stock has a market cap of $26.79 billion and a P/E ratio of 22.69. Loblaw Companies has a 12 month low of $62.33 and a 12 month high of $78.87.
Loblaw Companies (TSE:L) last announced its earnings results on Wednesday, July 26th. The company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.01. Loblaw Companies had a net margin of 2.23% and a return on equity of 7.82%. The firm had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $10.96 billion. Analysts forecast that Loblaw Companies will post $4.44 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Thursday, September 14th.
About Loblaw Companies
Loblaw Companies Limited is a Canada-based holding company. The Company operates through three segments: Retail, Financial Services and Choice Properties. The Company’s Retail segment consists of corporate and franchise-owned retail food and Associate-owned drug stores, and includes in-store pharmacies and other health and beauty products, gas bars, apparel and other general merchandise.
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