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

Shares of Empire Company Limited (TSE:EMP.A) have earned a consensus recommendation of “Hold” from the seven research firms that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is C$38.43.

A number of research firms have recently weighed in on EMP.A. Scotiabank reduced their target price on shares of Empire from C$37.00 to C$36.00 and set an “outperform” rating on the stock in a research report on Monday. TD Securities cut their price objective on shares of Empire from C$37.00 to C$36.00 and set a “hold” rating on the stock in a report on Friday, March 15th. Desjardins lowered their target price on shares of Empire from C$40.00 to C$39.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. BMO Capital Markets dropped their price target on Empire from C$37.00 to C$35.00 in a research report on Friday, March 15th. Finally, CIBC reduced their price objective on Empire from C$42.00 to C$40.00 in a research report on Friday, March 1st.

Empire Trading Up 0.4 %

TSE EMP.A opened at C$32.10 on Thursday. The stock’s 50 day moving average is C$33.29 and its 200 day moving average is C$35.42. 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 firm has a market capitalization of C$4.69 billion, a PE ratio of 10.63, a P/E/G ratio of 16.20 and a beta of 0.47. Empire has a twelve month low of C$31.45 and a twelve month high of C$40.69.

Empire Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 30th will be given a $0.1825 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.73 annualized dividend and a yield of 2.27%. Empire’s payout ratio is 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.