Canadian Imperial Bank of Commerce set a C$57.00 price target on Empire (TSE:EMP.A – Free Report) in a report released on Thursday,BayStreet reports. The brokerage currently has a neutral rating on the stock.
Other analysts have also issued reports about the company. BMO Capital Markets raised Empire from a “market perform” rating to an “outperform” rating and set a C$58.00 price objective for the company in a report on Monday, July 20th. National Bank Financial reduced their target price on Empire from C$56.00 to C$54.00 and set a “sector perform” rating on the stock in a report on Friday, September 11th. Desjardins reduced their target price on Empire from C$57.00 to C$53.00 and set a “buy” rating on the stock in a report on Friday, September 11th. Scotia decreased their target price on Empire from C$50.00 to C$48.00 and set a “sector perform” rating for the company in a research report on Friday, September 11th. Finally, TD lowered their price target on Empire from C$53.00 to C$52.00 and set a “hold” rating for the company in a report on Friday, September 11th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$53.56.
Read Our Latest Stock Report on Empire
Empire Price Performance
EMP.A opened at C$50.45 on Thursday. The company has a 50-day moving average of C$48.29 and a 200-day moving average of C$48.63. The company has a market capitalization of C$11.29 billion, a P/E ratio of 50.96, a PEG ratio of 16.20 and a beta of -0.21. Empire has a 1-year low of C$43.81 and a 1-year high of C$52.64. The company has a debt-to-equity ratio of 135.51, a quick ratio of 0.29 and a current ratio of 0.79.
Empire (TSE:EMP.A – Get Free Report) last issued its earnings results on Thursday, September 10th. The company reported C$1.04 earnings per share (EPS) for the quarter. Empire had a net margin of 2.18% and a return on equity of 12.94%. The business had revenue of C$8.47 billion for the quarter. Equities analysts expect that Empire will post 2.96 EPS for the current fiscal year.
Empire Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, October 15th. Empire’s dividend payout ratio is 91.16%.
About Empire
Empire Company Limited (TSX: EMP.A) is a Canadian company headquartered in Stellarton, Nova Scotia. Empire’s key businesses are food retailing, through wholly-owned subsidiary Sobeys Inc, and related real estate. With approximately $32 billion in annual sales and $17 billion in assets, Empire and its subsidiaries, franchisees and affiliates employ approximately 130,000 people. Additional financial information relating to Empire, including the Company’s Annual Information Form, can be found on the Company’s website at www.empireco.ca or on SEDAR+ at www.sedarplus.ca.
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