Loblaw Companies Ltd (L) Receives C$81.00 Consensus Target Price from Brokerages
Loblaw Companies Ltd (TSE:L) has been given a consensus recommendation of “Buy” by the ten research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$81.50.
Several analysts recently weighed in on L shares. Desjardins reduced their price objective on shares of Loblaw Companies from C$85.00 to C$81.00 and set a “buy” rating on the stock in a research note on Thursday, June 22nd. TD Securities reduced their price objective on shares of Loblaw Companies from C$88.00 to C$85.00 and set a “buy” rating on the stock in a research note on Tuesday, July 18th. Eight Capital reduced their price objective on shares of Loblaw Companies from C$82.00 to C$78.00 in a research note on Friday, July 21st. Scotiabank reduced their price objective on shares of Loblaw Companies from C$79.00 to C$76.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 27th. Finally, National Bank Financial dropped their target price on shares of Loblaw Companies from C$81.00 to C$78.00 and set an “outperform” rating on the stock in a report on Thursday, July 27th.
Loblaw Companies (TSE:L) traded down 0.76% on Wednesday, hitting $66.37. The stock had a trading volume of 746,584 shares. The company’s 50 day moving average is $67.08 and its 200-day moving average is $71.78. The firm has a market capitalization of $26.18 billion and a price-to-earnings ratio of 22.17. Loblaw Companies has a 1-year low of $62.33 and a 1-year high of $78.87.
Loblaw Companies (TSE:L) last posted its earnings results on Wednesday, July 26th. The company reported C$1.11 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.10 by C$0.01. The firm had revenue of C$11.08 billion for the quarter, compared to analysts’ expectations of C$10.96 billion. Loblaw Companies had a net margin of 3.29% and a return on equity of 12.17%. On average, analysts forecast that Loblaw Companies will post $4.44 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.63%.
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About Loblaw Companies
Loblaw Companies Limited is a Canada-based holding company. The Company operates through three segments: Retail, Financial Services and Choice Properties. The Company’s Retail segment consists of corporate and franchise-owned retail food and Associate-owned drug stores, and includes in-store pharmacies and other health and beauty products, gas bars, apparel and other general merchandise.
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