Royal Bank Of Canada Issues Positive Forecast for Empire (TSE:EMP.A) Stock Price

Empire (TSE:EMP.A) had its price target hoisted by equities research analysts at Royal Bank Of Canada from C$55.00 to C$58.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 12.56% from the company’s current price.

A number of other research firms also recently weighed in on EMP.A. National Bank Financial upped their price target on shares of Empire from C$54.00 to C$55.00 and gave the stock a “sector perform” rating in a research note on Monday. Desjardins set a C$53.00 price objective on Empire and gave the stock a “buy” rating in a report on Monday. Finally, Scotiabank lowered shares of Empire from an “outperform” rating to a “sector perform” rating and set a C$52.00 target price on the stock. in a report on Thursday, April 9th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Empire currently has a consensus rating of “Hold” and an average price target of C$54.14.

Empire Stock Performance

Empire stock traded up C$0.28 during midday trading on Friday, reaching C$51.53. 119,605 shares of the stock traded hands, compared to its average volume of 479,892. The company has a current ratio of 0.79, a quick ratio of 0.29 and a debt-to-equity ratio of 135.51. Empire has a fifty-two week low of C$43.81 and a fifty-two week high of C$58.32. The firm has a fifty day moving average price of C$47.81 and a two-hundred day moving average price of C$48.08. The firm has a market cap of C$11.68 billion, a price-to-earnings ratio of 76.91, a PEG ratio of 16.20 and a beta of -0.20.

Empire (TSE:EMP.A) last posted its quarterly earnings data on Thursday, June 18th. The company reported C$0.94 EPS for the quarter. The business had revenue of C$7.81 billion for the quarter. Empire had a net margin of 2.18% and a return on equity of 12.94%. On average, equities research analysts forecast that Empire will post 2.9581227 earnings per share for the current year.

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.