Scotiabank Lowers Empire (TSE:EMP.A) Price Target to C$57.00

Empire (TSE:EMP.A) had its target price lowered by equities research analysts at Scotiabank from C$58.00 to C$57.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 10.79% from the company’s current price.

Separately, National Bankshares set a C$59.00 target price on Empire and gave the stock a “sector perform” rating in a report on Friday, August 22nd. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$56.57.

Empire Stock Down 0.3%

Shares of TSE:EMP.A opened at C$51.45 on Thursday. Empire has a 52-week low of C$40.33 and a 52-week high of C$58.32. The company has a market capitalization of C$11.88 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 16.20 and a beta of 0.08. The company has a debt-to-equity ratio of 135.51, a quick ratio of 0.29 and a current ratio of 0.79. The company has a fifty day moving average of C$49.51 and a 200-day moving average of C$52.27.

Empire Company Profile

Empire Co Ltd key businesses are food retailing, investments, and other operations. The food retailing division operates through Empire’s subsidiary Sobeys and represents nearly all of the company’s income. This segment owns, affiliates, or franchises more than 1,500 stores in 10 provinces, under retail banners including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Lawton’s Drug Stores, and multiple retail fuel locations.