Loblaw Companies Limited (TSE:L) Receives C$92.63 Average Price Target from Brokerages

Shares of Loblaw Companies Limited (TSE:L) have been assigned an average rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$92.63.

Several brokerages have recently commented on L. National Bank Financial increased their price objective on Loblaw Companies from C$62.00 to C$66.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Scotiabank boosted their target price on Loblaw Companies from C$68.00 to C$70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Desjardins upped their target price on Loblaw Companies from C$67.00 to C$70.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Royal Bank Of Canada increased their price target on shares of Loblaw Companies from C$68.00 to C$72.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Finally, BMO Capital Markets boosted their price objective on shares of Loblaw Companies from C$63.00 to C$68.00 and gave the stock a “market perform” rating in a report on Monday, February 23rd.

Loblaw Companies Price Performance

Shares of TSE:L opened at C$64.59 on Thursday. The firm has a market capitalization of C$75.70 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 3.23 and a beta of 0.29. The company has a debt-to-equity ratio of 227.92, a quick ratio of 0.68 and a current ratio of 1.08. Loblaw Companies has a 52-week low of C$48.01 and a 52-week high of C$69.59. The firm has a fifty day moving average of C$64.35 and a 200 day moving average of C$61.03.

Loblaw Companies (TSE:L) last released its quarterly earnings results on Wednesday, February 25th. The company reported C$0.67 earnings per share for the quarter. Loblaw Companies had a return on equity of 24.03% and a net margin of 4.17%.The business had revenue of C$15.70 billion for the quarter. As a group, research analysts anticipate that Loblaw Companies will post 9.1225541 EPS for the current fiscal year.

Loblaw Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, April 1st were given a $0.1411 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, March 13th. Loblaw Companies’s dividend payout ratio (DPR) is presently 24.84%.

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.