Q2 2024 EPS Estimates for Loblaw Companies Limited Cut by Analyst (TSE:L)

Loblaw Companies Limited (TSE:L) – Analysts at National Bank Financial reduced their Q2 2024 earnings per share (EPS) estimates for Loblaw Companies in a report released on Wednesday, May 1st. National Bank Financial analyst V. Shreedhar now forecasts that the company will earn $2.15 per share for the quarter, down from their prior forecast of $2.17. The consensus estimate for Loblaw Companies’ current full-year earnings is $8.49 per share. National Bank Financial also issued estimates for Loblaw Companies’ Q4 2024 earnings at $2.20 EPS, FY2024 earnings at $8.46 EPS, Q1 2025 earnings at $1.90 EPS, Q2 2025 earnings at $2.34 EPS, Q4 2025 earnings at $2.40 EPS and FY2025 earnings at $9.24 EPS.

Several other research firms have also commented on L. BMO Capital Markets increased their price target on shares of Loblaw Companies from C$130.00 to C$145.00 in a research report on Friday, February 23rd. Scotiabank increased their target price on Loblaw Companies from C$148.27 to C$161.00 and gave the company a “sector perform” rating in a report on Thursday. Royal Bank of Canada boosted their price target on Loblaw Companies from C$170.00 to C$172.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. TD Securities increased their price objective on Loblaw Companies from C$168.00 to C$172.00 and gave the company a “buy” rating in a research note on Friday. Finally, Desjardins boosted their target price on shares of Loblaw Companies from C$148.00 to C$157.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Loblaw Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of C$162.43.

Loblaw Companies Stock Performance

Shares of L stock opened at C$153.93 on Friday. The stock has a fifty day moving average price of C$149.29 and a 200 day moving average price of C$133.72. The company has a debt-to-equity ratio of 156.41, a quick ratio of 0.68 and a current ratio of 1.25. The stock has a market cap of C$47.60 billion, a PE ratio of 23.61, a P/E/G ratio of 2.53 and a beta of 0.12. Loblaw Companies has a 1 year low of C$110.52 and a 1 year high of C$155.22.

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

Insider Activity at Loblaw Companies

In other Loblaw Companies news, Senior Officer Robert Wayne Wiebe sold 16,583 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of C$150.00, for a total value of C$2,487,450.00. In related news, Senior Officer Robert Wayne Wiebe sold 16,583 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of C$150.00, for a total transaction of C$2,487,450.00. Also, Senior Officer Frank Gambioli sold 4,603 shares of Loblaw Companies stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$144.00, for a total transaction of C$662,832.00. Over the last ninety days, insiders sold 71,495 shares of company stock worth $10,547,163. 52.69% of the stock is currently owned by insiders.

Loblaw Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Saturday, June 15th will be given a $0.513 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.33%. This is an increase from Loblaw Companies’s previous quarterly dividend of $0.45. Loblaw Companies’s payout ratio is currently 27.30%.

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.