Brokerages Set Loblaw Companies Limited (TSE:L) Price Target at C$89.75

Shares of Loblaw Companies Limited (TSE:L) have received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$89.75.

Several equities analysts recently issued reports on the company. Royal Bank Of Canada increased their target price on Loblaw Companies from C$68.00 to C$72.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Desjardins raised shares of Loblaw Companies from a “hold” rating to a “buy” rating and increased their price target for the stock from C$62.00 to C$67.00 in a research report on Thursday, December 4th. BMO Capital Markets lifted their price objective on shares of Loblaw Companies from C$57.50 to C$63.00 in a report on Thursday, November 13th. Canadian Imperial Bank of Commerce upped their target price on shares of Loblaw Companies from C$58.50 to C$67.00 in a research note on Thursday, November 13th. Finally, TD Securities increased their target price on shares of Loblaw Companies from C$63.00 to C$65.00 in a report on Thursday, November 13th.

Loblaw Companies Stock Performance

TSE:L opened at C$67.86 on Wednesday. The stock has a market capitalization of C$80.15 billion, a P/E ratio of 33.14, a PEG ratio of 3.23 and a beta of 0.30. The company has a debt-to-equity ratio of 166.11, a quick ratio of 0.68 and a current ratio of 1.29. Loblaw Companies has a fifty-two week low of C$43.32 and a fifty-two week high of C$68.82. The company has a 50 day moving average price of C$62.76 and a 200 day moving average price of C$76.89.

Loblaw Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 30th were paid a $0.1411 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, December 15th. Loblaw Companies’s dividend payout ratio (DPR) is presently 26.31%.

Loblaw Companies Company Profile

Loblaw is one of Canada’s largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.