Empire (TSE:EMP.A) Reaches New 52-Week Low at $31.51

Empire Company Limited (TSE:EMP.A)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as C$31.51 and last traded at C$31.62, with a volume of 124815 shares changing hands. The stock had previously closed at C$31.67.

Analyst Ratings Changes

A number of analysts have recently weighed in on EMP.A shares. BMO Capital Markets reduced their target price on shares of Empire from C$37.00 to C$35.00 in a research report on Friday, March 15th. National Bankshares decreased their target price on shares of Empire from C$41.00 to C$40.00 in a research note on Friday, March 15th. Desjardins reduced their price target on Empire from C$40.00 to C$39.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. Royal Bank of Canada dropped their target price on shares of Empire from C$49.00 to C$43.00 and set a “sector perform” rating on the stock in a research note on Friday, March 15th. Finally, TD Securities decreased their price objective on shares of Empire from C$37.00 to C$36.00 and set a “hold” rating for the company in a report on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$38.86.

Empire Stock Down 0.1 %

The company has a market cap of C$4.62 billion, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 16.20 and a beta of 0.47. The company has a quick ratio of 0.29, a current ratio of 0.80 and a debt-to-equity ratio of 133.75. The company has a fifty day moving average of C$33.41 and a 200 day moving average of C$35.56.

Empire Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.1825 per share. The ex-dividend date is Friday, April 12th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 2.31%. Empire’s dividend payout ratio is currently 24.17%.

Empire Company Profile

Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,500 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawtons Drugs; and approximately 350 retail fuel locations.