Scotia Lowers Loblaw Companies (TSE:L) Price Target to C$64.00

Loblaw Companies (TSE:L) had its price target reduced by research analysts at Scotia from C$70.00 to C$64.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotia’s price objective suggests a potential upside of 5.25% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. TD Securities raised their price objective on Loblaw Companies from C$65.00 to C$75.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Canadian Imperial Bank of Commerce reduced their price objective on Loblaw Companies from C$75.00 to C$69.00 in a research note on Thursday. BMO Capital Markets raised their price objective on Loblaw Companies from C$63.00 to C$68.00 and gave the stock a “market perform” rating in a research note on Monday, February 23rd. Royal Bank Of Canada raised their price objective on Loblaw Companies from C$68.00 to C$72.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Finally, Desjardins raised their price objective on Loblaw Companies from C$67.00 to C$70.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Loblaw Companies presently has an average rating of “Moderate Buy” and a consensus price target of C$69.25.

Loblaw Companies Stock Performance

Shares of L opened at C$60.81 on Thursday. The business’s fifty day moving average price is C$62.78 and its 200 day moving average price is C$62.19. Loblaw Companies has a 12-month low of C$52.92 and a 12-month high of C$69.59. The stock has a market capitalization of C$70.78 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 3.23 and a beta of 0.31. The company has a debt-to-equity ratio of 153.41, a current ratio of 1.09 and a quick ratio of 0.68.

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

About Loblaw Companies

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.