Loblaw Companies (TSE:LB) has received a consensus rating of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. Four equities research 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 brokers that have updated their coverage on the stock in the last year is C$56.40.
A number of equities research analysts recently weighed in on LB shares. National Bank Financial reaffirmed a “sector perform market weight” rating on shares of Loblaw Companies in a research report on Tuesday, January 16th. BMO Capital Markets reaffirmed an “outperform” rating and set a C$60.00 price objective on shares of Loblaw Companies in a research report on Thursday, March 1st. TD Securities dropped their price objective on Loblaw Companies from C$64.00 to C$58.00 and set a “buy” rating on the stock in a research report on Thursday, March 1st. Barclays dropped their price objective on Loblaw Companies from C$59.00 to C$57.00 in a research report on Friday, February 16th. Finally, CIBC dropped their price objective on Loblaw Companies from C$60.00 to C$55.00 in a research report on Thursday, March 1st.
Shares of Loblaw Companies stock traded up C$0.02 during trading on Monday, hitting C$49.60. 118,400 shares of the stock traded hands, compared to its average volume of 273,459. Loblaw Companies has a 52-week low of C$46.57 and a 52-week high of C$62.90.
Loblaw Companies (TSE:LB) last announced its quarterly earnings results on Wednesday, February 28th. The company reported C$1.49 EPS for the quarter, missing the consensus estimate of C$1.52 by C($0.03). The firm had revenue of C$267.00 million for the quarter, compared to analysts’ expectations of C$265.70 million. Loblaw Companies had a net margin of 21.88% and a return on equity of 11.79%.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 1st. Shareholders of record on Tuesday, May 1st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 5.08%. The ex-dividend date was Thursday, March 29th.
In other Loblaw Companies news, Director Sonia Baxendale purchased 1,500 shares of the stock in a transaction on Monday, March 5th. The stock was acquired at an average price of C$48.50 per share, with a total value of C$72,750.00.
About Loblaw Companies
Laurentian Bank of Canada, together with its subsidiaries, provides banking services to individuals, small and medium-sized enterprises, and independent advisors in Canada and the United States. It operates through four segments: Retail Services, Business Services, B2B Bank, and Capital Markets. The company offers transactional products and current accounts, term deposits, and investment accounts; personal line of credit, personal loans, student loans, and registered retirement savings plans; financing for agriculture, real estate, and commercial industries, as well as small and medium-sized enterprises; mortgage solutions, such as variable-rate mortgage, fixed-rate mortgage, equity line of credit, mortgage insurance, and retirement line of credit; and credit and business cards, as well as equipment finance and leasing solutions.
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