Empire (TSE:EMP.A) Given a C$53.00 Price Target at Desjardins

Empire (TSE:EMP.A) has been assigned a C$53.00 price objective by investment analysts at Desjardins in a research note issued on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price target suggests a potential upside of 7.51% from the stock’s previous close.

Separately, Scotiabank cut Empire from an “outperform” rating to a “sector perform” rating and set a C$52.00 price target for the company. in a report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Empire has a consensus rating of “Hold” and an average price target of C$53.00.

Empire Stock Performance

Shares of EMP.A traded down C$0.03 during mid-day trading on Monday, reaching C$49.30. The company’s stock had a trading volume of 96,138 shares, compared to its average volume of 481,484. The stock has a market cap of C$11.17 billion, a P/E ratio of 73.58, a PEG ratio of 16.20 and a beta of -0.20. The business has a 50-day simple moving average of C$47.85 and a two-hundred day simple moving average of C$48.14. The company has a current ratio of 0.79, a quick ratio of 0.29 and a debt-to-equity ratio of 135.51. Empire has a 1-year low of C$43.81 and a 1-year high of C$58.32.

Empire (TSE:EMP.A) last released its quarterly earnings results on Thursday, March 12th. The company reported C$0.72 earnings per share for the quarter. The business had revenue of C$7.89 billion during the quarter. Empire had a return on equity of 12.94% and a net margin of 2.18%. As a group, equities research analysts anticipate that Empire will post 2.9581227 earnings per share for the current fiscal year.

Empire Company Profile

Empire Co Ltd key businesses are food retailing, investments, and other operations. The food retailing division operates through Empire’s subsidiary Sobeys and represents nearly all of the company’s income. This segment owns, affiliates, or franchises more than 1,500 stores in 10 provinces, under retail banners including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Lawton’s Drug Stores, and multiple retail fuel locations. The company’s investment and other operations segment include the investment in Crombie REIT, which is an open-ended Canadian real estate investment trust, as well as the Genstar Development Partnership.