FY2016 EPS Estimates for Loblaw Companies Limited (L) Increased by Desjardins
Loblaw Companies Limited (TSE:L) – Equities research analysts at Desjardins boosted their FY2016 earnings per share (EPS) estimates for shares of Loblaw Companies Limited in a research report issued on Thursday. Desjardins analyst K. Howlett now forecasts that the brokerage will post earnings per share of $4.15 for the year, up from their prior estimate of $4.03. Desjardins also issued estimates for Loblaw Companies Limited’s FY2017 earnings at $4.55 EPS.
A number of other brokerages have also recently weighed in on L. Raymond James Financial Inc. increased their price target on shares of Loblaw Companies Limited from C$78.00 to C$80.00 in a research note on Thursday, July 28th. National Bank Financial increased their price target on shares of Loblaw Companies Limited from C$74.00 to C$77.00 in a research note on Thursday, July 28th. Royal Bank Of Canada increased their price target 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. CIBC increased their price target on shares of Loblaw Companies Limited from C$80.00 to C$81.00 in a research note on Thursday, July 28th. Finally, Scotiabank reiterated a “sector perform” rating and set a C$77.00 price target on shares of Loblaw Companies Limited in a research note on Thursday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of C$79.17.
Shares of Loblaw Companies Limited (TSE:L) opened at 68.48 on Friday. Loblaw Companies Limited has a 1-year low of $61.25 and a 1-year high of $74.59. The stock has a market cap of $27.69 billion and a PE ratio of 43.65. The stock’s 50 day moving average is $66.05 and its 200-day moving average is $69.41.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.52%.
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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