Analysts Set Loblaw Companies Limited (TSE:L) Target Price at C$81.86

Shares of Loblaw Companies Limited (TSE:L) have been given an average rating of “Buy” by the eight research firms that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$81.86.

L has been the topic of several research analyst reports. Royal Bank of Canada raised their target price on Loblaw Companies from C$94.00 to C$96.00 and gave the stock an “outperform” rating in a research report on Thursday, May 6th. CIBC raised their target price on Loblaw Companies from C$78.00 to C$87.00 in a research report on Thursday, May 6th. TD Securities raised Loblaw Companies from a “hold” rating to a “buy” rating and raised their target price for the stock from C$76.00 to C$80.00 in a research report on Thursday, May 6th. Scotiabank raised their price target on Loblaw Companies from C$72.00 to C$73.00 in a research note on Thursday, May 6th. Finally, National Bank Financial raised their price target on Loblaw Companies to C$77.00 and gave the stock an “outperform” rating in a research note on Thursday, May 6th.

Loblaw Companies stock traded down C$0.13 during midday trading on Friday, reaching C$75.97. 117,787 shares of the stock traded hands, compared to its average volume of 641,227. The company has a debt-to-equity ratio of 149.79, a quick ratio of 0.68 and a current ratio of 1.35. The firm has a market capitalization of C$25.99 billion and a price-to-earnings ratio of 23.06. The business has a 50-day simple moving average of C$71.71. Loblaw Companies has a 12-month low of C$60.86 and a 12-month high of C$76.47.

Loblaw Companies (TSE:L) last posted its quarterly earnings results on Wednesday, May 5th. The company reported C$1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.91 by C$0.22. The company had revenue of C$11.87 billion during the quarter, compared to analyst estimates of C$11.80 billion. On average, analysts expect that Loblaw Companies will post 5.4900001 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Tuesday, June 15th will be paid a $0.335 dividend. The ex-dividend date is Monday, June 14th. This represents a $1.34 annualized dividend and a dividend yield of 1.76%. Loblaw Companies’s dividend payout ratio (DPR) is currently 39.41%.

In related news, Senior Officer Jocyanne C. Bourdeau sold 13,172 shares of Loblaw Companies stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of C$70.46, for a total value of C$928,084.63.

About Loblaw Companies

Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses 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.

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Analyst Recommendations for Loblaw Companies (TSE:L)

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