Loblaw Companies (OTCMKTS:LBLCF) Shares Gap Down After Earnings Miss

Loblaw Companies Limited (OTCMKTS:LBLCF)’s share price gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $50.26, but opened at $47.27. Loblaw Companies shares last traded at $47.27, with a volume of 160 shares traded.

The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The business had revenue of $11.92 billion for the quarter, compared to analysts’ expectations of $12.23 billion. Loblaw Companies had a return on equity of 25.38% and a net margin of 4.13%.

Loblaw Companies Trading Down 0.3%

The company has a quick ratio of 0.74, a current ratio of 1.35 and a debt-to-equity ratio of 1.49. The business’s fifty day moving average is $46.52 and its 200-day moving average is $48.38. The stock has a market capitalization of $54.55 billion and a PE ratio of 93.10.

Loblaw Companies Company Profile

Loblaw Companies Limited is Canada’s largest food and pharmacy retailer, operating a network of more than 2,400 corporate and franchise stores across every province and territory. Its grocery banners include Loblaws, No Frills, Real Canadian Superstore and Zehrs, while its joint venture with George Weston Limited underpins a portfolio of hard-discount and premium formats. Loblaw maintains its headquarters in Brampton, Ontario, and its shares trade on the Toronto Stock Exchange, with American depositary receipts quoted on OTCMKTS under the symbol LBLCF.

In addition to conventional grocery retailing, Loblaw provides pharmacy services through its Shoppers Drug Mart chain, one of Canada’s leading health and beauty networks.