Empire Company Limited (TSE:EMP.A – Get Free Report)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$48.25 and traded as high as C$48.72. Empire shares last traded at C$48.00, with a volume of 340,102 shares.
Wall Street Analyst Weigh In
Separately, Scotiabank downgraded shares of Empire from an “outperform” rating to a “sector perform” rating and set a C$52.00 price target for the company. in a research note 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.com, the company currently has an average rating of “Hold” and an average target price of C$52.83.
Read Our Latest Stock Report on EMP.A
Empire Stock Up 3.1%
Empire (TSE:EMP.A – Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The company reported C$0.72 earnings per share for the quarter. The business had revenue of C$7.89 billion during the quarter. Empire had a net margin of 2.18% and a return on equity of 12.94%. As a group, equities research analysts expect that Empire Company Limited will post 2.9581227 EPS for the current fiscal year.
Empire Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Thursday, April 30th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Wednesday, April 15th. Empire’s payout ratio is currently 128.36%.
Empire Company Profile
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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