Loblaw Companies Limited (L) Receives Consensus Rating of “Buy” from Brokerages
Loblaw Companies Limited (TSE:L) has been assigned an average recommendation of “Hold” from the twelve analysts that are presently covering the firm. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is C$79.08.
A number of equities analysts have recently commented on L shares. Royal Bank Of Canada increased their price objective on shares of Loblaw Companies Limited from C$82.00 to C$83.00 and gave the stock an “outperform” rating in a research note on Thursday. Desjardins upped their target price on shares of Loblaw Companies Limited from C$77.00 to C$80.00 in a report on Thursday, July 28th. National Bank Financial upped their target price on shares of Loblaw Companies Limited from C$74.00 to C$77.00 in a report on Thursday, July 28th. Raymond James Financial Inc. upped their target price on shares of Loblaw Companies Limited from C$78.00 to C$80.00 in a report on Thursday, July 28th. Finally, CIBC upped their target price on shares of Loblaw Companies Limited from C$80.00 to C$81.00 in a report on Thursday, July 28th.
Loblaw Companies Limited (TSE:L) traded up 1.72% during trading on Thursday, hitting $68.06. The stock had a trading volume of 555,847 shares. The company has a market capitalization of $27.52 billion and a price-to-earnings ratio of 43.38. The stock has a 50 day moving average price of $66.08 and a 200 day moving average price of $69.41. Loblaw Companies Limited has a 12-month low of $61.25 and a 12-month high of $74.59.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.55%.
About Loblaw Companies Limited
Loblaw Companies Limited (Loblaw) is a Canada-based holding company. The Company, through its subsidiaries, provides grocery, pharmacy, health and beauty, apparel, general merchandise, and financial products and services. The Company operates through three segments: Retail, Financial Services and Choice Properties.
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