Loblaw Companies Ltd (TSE:L) had its price target cut by Scotiabank from C$79.00 to C$76.00 in a research note published on Thursday morning. They currently have a sector perform rating on the stock.

A number of other analysts have also recently issued reports on L. National Bank Financial cut their target price on shares of Loblaw Companies from C$81.00 to C$78.00 and set an outperform rating for the company in a research note on Thursday. BMO Capital Markets lowered their price target on shares of Loblaw Companies from C$85.00 to C$82.00 and set an outperform rating on the stock in a research report on Thursday. Eight Capital lowered their price target on shares of Loblaw Companies from C$82.00 to C$78.00 in a research report on Friday, July 21st. Raymond James Financial, Inc. lowered their price target on shares of Loblaw Companies from C$81.00 to C$80.00 and set an outperform rating on the stock in a research report on Thursday. Finally, TD Securities lowered 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. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of C$81.00.

Loblaw Companies (TSE L) opened at 68.06 on Thursday. The stock’s 50 day moving average is $72.09 and its 200 day moving average is $72.22. The company has a market cap of $26.84 billion and a P/E ratio of 22.73. Loblaw Companies has a 12-month low of $62.33 and a 12-month high of $78.87.

Loblaw Companies (TSE:L) last posted its earnings results on Wednesday, July 26th. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.01. The company had revenue of $11.08 billion during the quarter, compared to analysts’ expectations of $10.96 billion. Loblaw Companies had a net margin of 2.23% and a return on equity of 7.82%. On average, equities analysts forecast that Loblaw Companies will post $4.44 earnings per share for the current year.

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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 given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend 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.

Analyst Recommendations for Loblaw Companies (TSE:L)

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