Shares of Empire Company Limited (TSE:EMP.A – Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as C$31.51 and last traded at C$31.62, with a volume of 124815 shares traded. The stock had previously closed at C$31.67.
Analyst Upgrades and Downgrades
EMP.A has been the topic of several research reports. BMO Capital Markets decreased their price target on shares of Empire from C$37.00 to C$35.00 in a report on Friday, March 15th. CIBC lowered their price target on shares of Empire from C$42.00 to C$40.00 in a report on Friday, March 1st. Desjardins dropped their price target on Empire from C$40.00 to C$39.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. TD Securities reduced their price objective on Empire from C$37.00 to C$36.00 and set a “hold” rating on the stock in a research report on Friday, March 15th. Finally, National Bankshares dropped their target price on Empire from C$41.00 to C$40.00 in a research report on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$38.86.
Check Out Our Latest Stock Report on Empire
Empire Stock Performance
Empire Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 30th will be given a $0.1825 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Friday, April 12th. Empire’s payout ratio is 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.
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