Desjardins Trims Dollarama (TSE:DOL) Target Price to C$48.00

Dollarama (TSE:DOL) had its price objective lowered by research analysts at Desjardins from C$49.00 to C$48.00 in a report issued on Friday, BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Desjardins’ price target suggests a potential upside of 0.95% from the stock’s previous close. Desjardins also issued estimates for Dollarama’s Q2 2020 earnings at $0.48 EPS and FY2020 earnings at $1.84 EPS.

Other research analysts have also issued reports about the company. Industrial Alliance Securities raised their price target on Dollarama from C$43.00 to C$45.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. TD Securities raised their price target on Dollarama from C$49.00 to C$50.00 and gave the stock a “hold” rating in a research report on Friday. Royal Bank of Canada raised their price target on Dollarama from C$53.00 to C$56.00 and gave the stock an “outperform” rating in a research report on Friday. BMO Capital Markets raised their price target on Dollarama from C$50.00 to C$52.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 3rd. Finally, Raymond James raised their price target on Dollarama from C$45.00 to C$48.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of C$48.45.

Shares of DOL traded down C$0.59 during midday trading on Friday, hitting C$47.55. 436,319 shares of the stock were exchanged, compared to its average volume of 799,846. Dollarama has a 52-week low of C$30.70 and a 52-week high of C$52.12. The stock has a fifty day simple moving average of C$50.01 and a 200 day simple moving average of C$43.63. The firm has a market cap of $15.20 billion and a P/E ratio of 28.07.

Dollarama (TSE:DOL) last released its quarterly earnings results on Thursday, June 13th. The company reported C$0.33 EPS for the quarter, hitting the consensus estimate of C$0.33. The firm had revenue of C$828.04 million for the quarter, compared to analysts’ expectations of C$803.80 million. As a group, equities research analysts anticipate that Dollarama will post 2.16 earnings per share for the current fiscal year.

In related news, Director Stephen Gunn sold 4,453 shares of Dollarama stock in a transaction on Thursday, August 1st. The stock was sold at an average price of C$49.16, for a total value of C$218,923.73. Following the completion of the transaction, the director now directly owns 92,101 shares in the company, valued at C$4,527,979.88. Also, Director Nicolas Hien sold 32,000 shares of Dollarama stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of C$50.20, for a total value of C$1,606,537.60. Over the last quarter, insiders sold 118,453 shares of company stock valued at $5,883,301.

Dollarama Company Profile

Dollarama Inc operates a chain of dollar stores in Canada. Its stores offer general merchandise, consumables, and seasonal items. The company also offers products online. As of March 28, 2019, it operated 1,225 stores. The company was formerly known as Dollarama Capital Corporation and changed its name to Dollarama Inc in September 2009.

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Analyst Recommendations for Dollarama (TSE:DOL)

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