Loblaw Companies (TSE:L) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Loblaw Companies Limited (TSE:L) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$60.43 and traded as high as C$63.79. Loblaw Companies shares last traded at C$63.12, with a volume of 1,169,360 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on L shares. National Bank Financial increased their price target on Loblaw Companies from C$62.00 to C$66.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. Desjardins upped their price objective on shares of Loblaw Companies from C$67.00 to C$70.00 and gave the company a “buy” rating in a report on Thursday, February 26th. BMO Capital Markets increased their price objective on shares of Loblaw Companies from C$63.00 to C$68.00 and gave the company a “market perform” rating in a research report on Monday, February 23rd. TD Securities raised their target price on shares of Loblaw Companies from C$65.00 to C$75.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Finally, Royal Bank Of Canada lifted their target price on shares of Loblaw Companies from C$68.00 to C$72.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$92.63.

Loblaw Companies Stock Performance

The firm has a market capitalization of C$73.97 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 3.23 and a beta of 0.29. The company has a fifty day moving average of C$64.16 and a two-hundred day moving average of C$60.43. The company has a debt-to-equity ratio of 227.92, a quick ratio of 0.68 and a current ratio of 1.08.

Loblaw Companies (TSE:L) last issued its quarterly earnings data on Wednesday, February 25th. The company reported C$0.67 EPS for the quarter. Loblaw Companies had a return on equity of 24.03% and a net margin of 4.17%. As a group, equities research analysts predict that Loblaw Companies Limited will post 9.1225541 earnings per share for the current fiscal year.

Loblaw Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, April 1st will be paid a $0.1411 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. Loblaw Companies’s dividend payout ratio is 24.84%.

Loblaw Companies Company Profile

Loblaw is one of Canada’s largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.