Empire (TSE:EMP.A) Given New C$52.00 Price Target at TD

Empire (TSE:EMP.A) had its price target dropped by analysts at TD from C$53.00 to C$52.00 in a report released on Friday, BayStreet reports. The brokerage currently has a “hold” rating on the stock. TD’s price target would suggest a potential upside of 14.06% from the company’s current price.

Other analysts have also issued reports about the stock. BMO Capital Markets upgraded shares of Empire from a “market perform” rating to an “outperform” rating and set a C$58.00 target price on the stock in a research note on Monday, July 20th. Royal Bank Of Canada lifted their target price on shares of Empire from C$55.00 to C$58.00 and gave the company a “sector perform” rating in a report on Friday, June 19th. Canadian Imperial Bank of Commerce upped their price target on shares of Empire from C$54.00 to C$58.00 and gave the company an “outperformer” rating in a research report on Friday, June 19th. Desjardins decreased their price target on shares of Empire from C$57.00 to C$53.00 and set a “buy” rating for the company in a research note on Friday. Finally, Scotia decreased their price target on shares of Empire from C$50.00 to C$48.00 and set a “sector perform” rating for the company in a research note on Friday. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$53.67.

Empire Stock Down 1.7%

EMP.A traded down C$0.78 on Friday, hitting C$45.59. 284,866 shares of the company were exchanged, compared to its average volume of 485,066. The firm has a 50-day moving average price of C$49.09 and a two-hundred day moving average price of C$48.79. 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 twelve month low of C$43.81 and a twelve month high of C$52.64. The company has a market cap of C$10.20 billion, a price-to-earnings ratio of 53.01, a price-to-earnings-growth ratio of 16.20 and a beta of -0.29.

Empire (TSE:EMP.A) last posted its quarterly earnings results on Thursday, September 10th. The company reported C$1.04 earnings per share (EPS) for the quarter. The company had revenue of C$8.47 billion for the quarter. Empire had a return on equity of 12.94% and a net margin of 2.18%. On average, equities analysts predict that Empire will post 2.9581227 earnings per share for the current year.

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.