Shares of Loblaw Companies Limited (TSE:L – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$71.44.
L has been the subject of several recent research reports. BMO Capital Markets boosted their price target on Loblaw Companies from C$70.00 to C$73.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. TD set a C$75.00 price objective on Loblaw Companies and gave the stock a “buy” rating in a research report on Thursday, September 10th. Desjardins lifted their target price on Loblaw Companies from C$70.00 to C$72.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Scotia boosted their target price on shares of Loblaw Companies from C$64.00 to C$67.00 and gave the company a “sector perform” rating in a research report on Friday, July 31st. Finally, TD Securities upgraded shares of Loblaw Companies to a “strong-buy” rating in a research note on Wednesday, July 29th.
Check Out Our Latest Stock Analysis on Loblaw Companies
Loblaw Companies Stock Performance
Loblaw Companies (TSE:L – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported C$0.66 earnings per share (EPS) for the quarter. Loblaw Companies had a net margin of 4.32% and a return on equity of 25.25%. The firm had revenue of C$15.05 billion during the quarter. On average, sell-side analysts predict that Loblaw Companies will post 9.1225541 earnings per share for the current year.
Loblaw Companies Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, October 1st will be issued a $0.1552 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.62 dividend on an annualized basis and a yield of 1.0%. Loblaw Companies’s payout ratio is currently 24.51%.
Insiders Place Their Bets
In other news, insider Per Bank sold 203,623 shares of Loblaw Companies stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of C$62.01, for a total value of C$12,626,662.23. Also, insider Mark William Henry Wilson sold 24,496 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of C$62.68, for a total value of C$1,535,409.28. Insiders have sold a total of 324,121 shares of company stock worth $20,118,530 in the last quarter. Corporate insiders own 53.77% of the company’s stock.
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.
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