Loblaw Companies Limited Expected to Earn Q1 2024 Earnings of $1.72 Per Share (TSE:L)

Loblaw Companies Limited (TSE:L) – Stock analysts at Desjardins dropped their Q1 2024 earnings estimates for shares of Loblaw Companies in a research report issued on Sunday, April 28th. Desjardins analyst C. Li now anticipates that the company will earn $1.72 per share for the quarter, down from their previous forecast of $1.75. Desjardins currently has a “Hold” rating and a $157.00 target price on the stock. The consensus estimate for Loblaw Companies’ current full-year earnings is $8.49 per share. Desjardins also issued estimates for Loblaw Companies’ Q2 2024 earnings at $2.14 EPS, Q3 2024 earnings at $2.47 EPS and FY2025 earnings at $9.27 EPS.

Loblaw Companies (TSE:L) last released its earnings results on Thursday, February 22nd. The company reported C$2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.92 by C$0.08. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%. The company had revenue of C$14.53 billion during the quarter, compared to analyst estimates of C$14.58 billion.

Several other research firms also recently weighed in on L. Scotiabank lifted their price objective on Loblaw Companies from C$146.00 to C$148.27 and gave the company a “sector perform” rating in a report on Monday, April 22nd. CIBC decreased their price objective on Loblaw Companies from C$150.00 to C$149.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Royal Bank of Canada lifted their price objective on Loblaw Companies from C$170.00 to C$172.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. BMO Capital Markets lifted their price objective on Loblaw Companies from C$130.00 to C$145.00 in a report on Friday, February 23rd. Finally, TD Securities lifted their price objective on Loblaw Companies from C$150.00 to C$160.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$155.32.

Loblaw Companies Stock Down 1.1 %

Shares of L opened at C$150.96 on Tuesday. The company has a market cap of C$46.69 billion, a PE ratio of 23.15, a P/E/G ratio of 2.53 and a beta of 0.12. The business has a fifty day moving average of C$148.76 and a 200 day moving average of C$133.44. Loblaw Companies has a 52-week low of C$110.52 and a 52-week high of C$154.70. The company has a quick ratio of 0.68, a current ratio of 1.25 and a debt-to-equity ratio of 156.41.

Loblaw Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, April 1st were given a $0.446 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.78 dividend on an annualized basis and a yield of 1.18%. Loblaw Companies’s dividend payout ratio is currently 27.30%.

Insider Buying and Selling at Loblaw Companies

In other news, Senior Officer Frank Gambioli sold 4,603 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$144.00, for a total transaction of C$662,832.00. In related news, Senior Officer Kieran Barry Columb sold 10,000 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of C$150.00, for a total value of C$1,500,000.00. Also, Senior Officer Frank Gambioli sold 4,603 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$144.00, for a total value of C$662,832.00. Over the last ninety days, insiders sold 71,495 shares of company stock valued at $10,547,163. 52.69% of the stock is owned by company insiders.

Loblaw Companies Company Profile

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparels, general merchandise, financial services, and wireless mobile products and services in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores.