Loblaw Companies Limited (L) To Go Ex-Dividend on June 15th

Loblaw Companies Limited (TSE:L) announced a quarterly dividend on Monday, June 15th, TickerTech Dividends reports. Shareholders of record on Wednesday, July 1st will be paid a dividend of 0.1552 per share on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, June 15th. This is a 10.0% increase from Loblaw Companies’s previous quarterly dividend of $0.14.

Loblaw Companies Stock Down 2.5%

Shares of TSE:L traded down C$1.68 on Friday, reaching C$65.00. The company had a trading volume of 1,266,398 shares, compared to its average volume of 1,367,591. Loblaw Companies has a twelve month low of C$52.92 and a twelve month high of C$69.59. The stock has a 50-day moving average price of C$62.41 and a 200 day moving average price of C$62.91. The stock has a market capitalization of C$75.65 billion, a P/E ratio of 28.26, a P/E/G ratio of 3.23 and a beta of 0.15. The company has a quick ratio of 0.68, a current ratio of 1.09 and a debt-to-equity ratio of 153.41.

Loblaw Companies (TSE:L) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$0.52 earnings per share for the quarter. Loblaw Companies had a return on equity of 24.88% and a net margin of 4.29%.The company had revenue of C$14.48 billion during the quarter. On average, equities analysts expect that Loblaw Companies will post 9.1225541 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on L shares. TD Securities boosted their price objective on Loblaw Companies from C$65.00 to C$75.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Scotiabank cut Loblaw Companies from an “outperform” rating to a “hold” rating and set a C$70.00 price objective for the company. in a research report on Thursday, April 9th. Desjardins boosted their price objective on Loblaw Companies from C$67.00 to C$70.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Scotia cut their price objective on Loblaw Companies from C$70.00 to C$64.00 and set a “sector perform” rating for the company in a research report on Thursday, May 7th. Finally, Canadian Imperial Bank of Commerce cut their price objective on Loblaw Companies from C$75.00 to C$69.00 in a research report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Loblaw Companies currently has a consensus rating of “Moderate Buy” and an average price target of C$69.25.

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.