Loblaw Companies (TSE:L) Stock Passes Above Two Hundred Day Moving Average of $77.00

Shares of Loblaw Companies Limited (TSE:L) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$77.00 and traded as high as C$86.59. Loblaw Companies shares last traded at C$86.38, with a volume of 337,034 shares traded.

L has been the subject of a number of research analyst reports. BMO Capital Markets raised their target price on Loblaw Companies from C$71.00 to C$85.00 in a research note on Friday, July 30th. CIBC upped their target price on shares of Loblaw Companies from C$87.00 to C$96.00 in a research report on Friday, July 30th. ATB Capital boosted their price objective on shares of Loblaw Companies from C$85.00 to C$92.00 in a research note on Friday, July 30th. Desjardins raised their target price on shares of Loblaw Companies from C$77.00 to C$85.00 and gave the company a “buy” rating in a research note on Tuesday, July 27th. Finally, Scotiabank boosted their price target on Loblaw Companies from C$73.00 to C$86.00 in a research report on Friday, July 30th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Loblaw Companies has a consensus rating of “Buy” and a consensus price target of C$91.56.

The stock has a market cap of C$29.20 billion and a PE ratio of 22.07. The company has a debt-to-equity ratio of 145.12, a current ratio of 1.28 and a quick ratio of 0.67. The company has a 50 day moving average price of C$86.07 and a two-hundred day moving average price of C$77.00.

Loblaw Companies (TSE:L) last issued its earnings results on Wednesday, July 28th. The company reported C$1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$1.21 by C$0.14. The business had revenue of C$12.49 billion during the quarter, compared to analysts’ expectations of C$12.05 billion. As a group, equities analysts predict that Loblaw Companies Limited will post 5.3699998 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Wednesday, September 15th will be given a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Tuesday, September 14th. This is an increase from Loblaw Companies’s previous quarterly dividend of $0.34. Loblaw Companies’s payout ratio is 33.21%.

Loblaw Companies Company Profile (TSE:L)

Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores.

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