Analysts Set Loblaw Companies Limited (TSE:L) Price Target at C$71.00

Loblaw Companies Limited (TSE:L) has received an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$71.00.

Several research analysts have recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Loblaw Companies from C$70.00 to C$73.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. TD Securities raised Loblaw Companies to a “strong-buy” rating in a research note on Wednesday, July 29th. Canadian Imperial Bank of Commerce reduced their target price on Loblaw Companies from C$75.00 to C$69.00 in a research report on Thursday, May 7th. Desjardins upped their target price on Loblaw Companies from C$70.00 to C$72.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, National Bank Financial raised their price target on Loblaw Companies from C$67.00 to C$70.00 and gave the company an “outperform” rating in a report on Friday, July 31st.

Insider Activity at Loblaw Companies

In other Loblaw Companies news, Director Nicholas Henn sold 10,000 shares of Loblaw Companies stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of C$67.00, for a total transaction of C$670,000.00. Also, insider Melanie Singh sold 4,820 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of C$66.72, for a total transaction of C$321,590.40. 53.77% of the stock is currently owned by corporate insiders.

Loblaw Companies Trading Down 0.0%

TSE:L opened at C$62.08 on Monday. The company has a debt-to-equity ratio of 151.15, a quick ratio of 0.68 and a current ratio of 1.06. The firm has a market cap of C$71.74 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 3.23 and a beta of 0.14. Loblaw Companies has a 52 week low of C$52.92 and a 52 week high of C$69.59. The firm has a 50-day moving average price of C$63.38 and a two-hundred day moving average price of C$63.32.

Loblaw Companies (TSE:L) last announced its earnings results on Thursday, July 30th. The company reported C$0.66 earnings per share (EPS) for the quarter. The firm had revenue of C$15.05 billion during the quarter. Loblaw Companies had a return on equity of 25.25% and a net margin of 4.32%. On average, equities analysts expect that Loblaw Companies will post 9.1225541 earnings per share for the current fiscal year.

Loblaw Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, October 1st will be given a $0.1552 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 15th. Loblaw Companies’s dividend payout ratio is 24.51%.

About Loblaw Companies

Loblaw is Canada’s food and pharmacy leader, and the nation’s largest retailer. Loblaw provides Canadians with grocery, pharmacy, health and beauty, apparel, general merchandise, financial services and wireless mobile products and services. With more than 2,800 corporate franchised and Associate-owned locations, Loblaw, its franchisees and Associate-owners employ more than 220,000 full- and part-time employees, making it one of Canada’s largest private sector employers. Loblaw’s purpose – Live Life Well® – puts first the needs and well-being of Canadians who make one billion transactions annually in the company’s stores.