Empire Company Limited (TSE:EMP.A – Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$48.34 and traded as high as C$48.34. Empire shares last traded at C$47.97, with a volume of 537,831 shares changing hands.
Analysts Set New Price Targets
Separately, Scotiabank downgraded Empire from an “outperform” rating to a “sector perform” rating and set a C$52.00 target price for the company. in a research report on Thursday, April 9th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Empire currently has an average rating of “Hold” and an average price target of C$52.83.
Check Out Our Latest Research Report on EMP.A
Empire Stock Up 1.2%
Empire (TSE:EMP.A – Get Free Report) last announced its quarterly earnings data on Thursday, March 12th. The company reported C$0.72 earnings per share (EPS) for the quarter. The business had revenue of C$7.89 billion during the quarter. Empire had a return on equity of 12.94% and a net margin of 2.18%. Research analysts forecast that Empire Company Limited will post 2.9581227 EPS for the current fiscal year.
Empire Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Thursday, April 30th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Wednesday, April 15th. Empire’s dividend payout ratio (DPR) is presently 128.36%.
About Empire
Empire Co Ltd key businesses are food retailing, investments, and other operations. The food retailing division operates through Empire’s subsidiary Sobeys and represents nearly all of the company’s income. This segment owns, affiliates, or franchises more than 1,500 stores in 10 provinces, under retail banners including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Lawton’s Drug Stores, and multiple retail fuel locations. The company’s investment and other operations segment include the investment in Crombie REIT, which is an open-ended Canadian real estate investment trust, as well as the Genstar Development Partnership.
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