Loblaw Companies Ltd (L) Receives Consensus Recommendation of “Buy” from Analysts
Loblaw Companies Ltd (TSE:L) has earned a consensus rating of “Buy” from the eleven research firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$81.00.
A number of research firms have weighed in on L. Scotiabank cut their price objective on shares of Loblaw Companies from C$79.00 to C$76.00 and set a “sector perform” rating for the company in a report on Thursday, July 27th. Raymond James Financial, Inc. cut their target price on shares of Loblaw Companies from C$81.00 to C$80.00 and set an “outperform” rating for the company in a research note on Thursday, July 27th. National Bank Financial cut their target price on shares of Loblaw Companies from C$81.00 to C$78.00 and set an “outperform” rating for the company in a research note on Thursday, July 27th. BMO Capital Markets cut their target price on shares of Loblaw Companies from C$85.00 to C$82.00 and set an “outperform” rating for the company in a research note on Thursday, July 27th. Finally, Eight Capital cut their target price on shares of Loblaw Companies from C$82.00 to C$78.00 in a research note on Friday, July 21st.
Shares of Loblaw Companies (L) traded up 0.56% during midday trading on Friday, reaching $67.73. The company’s stock had a trading volume of 702,907 shares. Loblaw Companies has a 12-month low of $62.33 and a 12-month high of $78.87. The firm has a market capitalization of $26.71 billion and a P/E ratio of 22.62. The stock has a 50-day moving average of $68.81 and a 200 day moving average of $72.05.
Loblaw Companies (TSE:L) last released its quarterly earnings data on Wednesday, July 26th. The company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.01. Loblaw Companies had a net margin of 3.29% and a return on equity of 12.17%. The company had revenue of $11.08 billion during the quarter, compared to analysts’ expectations of $10.96 billion. Equities research analysts predict that Loblaw Companies will post $4.44 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be paid a dividend of $0.27 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.59%.
About Loblaw Companies
Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy, health and beauty, apparel, general merchandise, retail banking, credit card, insurance, and wireless mobile products and services in Canada. It operates through three segments: Retail, Financial Services, and Choice Properties.
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