Loblaw Companies Limited (TSE:L) Given Average Rating of “Moderate Buy” by Analysts

Loblaw Companies Limited (TSE:L) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is C$89.75.

A number of research analysts have weighed in on L shares. Royal Bank Of Canada lifted their price objective on shares of Loblaw Companies from C$68.00 to C$72.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. TD Securities upped their price target on Loblaw Companies from C$63.00 to C$65.00 in a report on Thursday, November 13th. Desjardins upgraded Loblaw Companies from a “hold” rating to a “buy” rating and increased their price target for the stock from C$62.00 to C$67.00 in a research report on Thursday, December 4th. Canadian Imperial Bank of Commerce boosted their price objective on Loblaw Companies from C$58.50 to C$67.00 in a research report on Thursday, November 13th. Finally, National Bank Financial upped their target price on Loblaw Companies from C$62.00 to C$66.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th.

Loblaw Companies Stock Down 0.1%

Loblaw Companies stock opened at C$67.86 on Wednesday. The business’s 50-day moving average price is C$62.76 and its 200 day moving average price is C$74.80. The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 166.11. The firm has a market cap of C$80.15 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 3.23 and a beta of 0.30. Loblaw Companies has a 52 week low of C$43.32 and a 52 week high of C$68.82.

Loblaw Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 30th were issued a dividend of $0.1411 per share. This represents a $0.56 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, December 15th. Loblaw Companies’s dividend payout ratio (DPR) is presently 26.31%.

Loblaw Companies Company Profile

Loblaw is one of Canada’s largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.