Empire Company Limited (TSE:EMP.A) Receives C$38.86 Average Target Price from Analysts

Empire Company Limited (TSE:EMP.A) has been given a consensus rating of “Hold” by the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is C$38.86.

EMP.A has been the topic of several research analyst reports. Desjardins lowered their price target on shares of Empire from C$40.00 to C$39.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. TD Securities reduced 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 research note on Friday, March 15th. CIBC reduced their price objective on shares of Empire from C$42.00 to C$40.00 in a research note on Friday, March 1st. National Bankshares reduced their price objective on shares of Empire from C$41.00 to C$40.00 in a research note on Friday, March 15th. Finally, BMO Capital Markets cut their target price on shares of Empire from C$37.00 to C$35.00 in a research report on Friday, March 15th.

Empire Trading Down 0.1 %

TSE EMP.A opened at C$33.08 on Friday. Empire has a twelve month low of C$32.12 and a twelve month high of C$40.69. The company has a debt-to-equity ratio of 133.75, a quick ratio of 0.29 and a current ratio of 0.80. The stock has a market cap of C$4.83 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 16.20 and a beta of 0.47. The firm’s 50 day moving average price is C$34.22 and its two-hundred day moving average price is C$36.01.

Empire Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 30th will be paid a $0.1825 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.73 dividend on an annualized basis and a yield of 2.21%. Empire’s payout ratio is presently 24.17%.

About Empire

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.