Loblaw Companies Ltd (TSE:L) Price Target Cut to C$82.00 by Analysts at BMO Capital Markets
Loblaw Companies Ltd (TSE:L) had its price objective reduced by BMO Capital Markets from C$85.00 to C$82.00 in a research note issued to investors on Thursday. BMO Capital Markets currently has an outperform rating on the stock.
A number of other brokerages have also recently commented on L. Scotiabank reiterated a sector perform rating and set a C$77.00 price target on shares of Loblaw Companies in a research report on Tuesday, May 2nd. Eight Capital reduced their price target on shares of Loblaw Companies from C$82.00 to C$78.00 in a research report on Friday, July 21st. National Bank Financial increased their price target on shares of Loblaw Companies from C$78.00 to C$81.00 in a research report on Thursday, May 4th. TD Securities reduced their price target on shares of Loblaw Companies from C$88.00 to C$85.00 and set a buy rating on the stock in a research report on Tuesday, July 18th. Finally, Raymond James Financial, Inc. increased their price target on shares of Loblaw Companies from C$80.00 to C$81.00 and gave the company an outperform rating in a research report on Thursday, May 4th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of C$81.00.
Shares of Loblaw Companies (TSE L) opened at 68.06 on Thursday. Loblaw Companies has a 52-week low of $62.33 and a 52-week high of $78.87. The company’s 50-day moving average is $72.09 and its 200 day moving average is $72.22. The firm has a market capitalization of $26.84 billion and a P/E ratio of 22.73.
Loblaw Companies (TSE:L) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.01. Loblaw Companies had a net margin of 2.23% and a return on equity of 7.82%. The business had revenue of $11.08 billion for the quarter, compared to analysts’ expectations of $10.96 billion. Analysts expect that Loblaw Companies will post $4.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Thursday, September 14th.
Loblaw Companies Company Profile
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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