Scotiabank Has Positive Estimate for Empire FY2027 Earnings

Empire (TSE:EMP) – Investment analysts at Scotiabank lifted their FY2027 earnings estimates for Empire in a report released on Thursday, September 17th. Scotiabank analyst J. Zamparo now expects that the company will post earnings per share of $3.52 for the year, up from their previous forecast of $3.48.

Several other equities analysts have also issued reports on the company. BMO Capital Markets raised Empire from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. TD Securities upgraded Empire to a “hold” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Empire currently has a consensus rating of “Moderate Buy”.

Empire Price Performance

Empire has a 12-month low of C$23.00 and a 12-month high of C$25.49.

About Empire

Empire Company Limited is engaged in the business of food retailing and related real estate. The Company’s segments include Food Retailing, and Investments and Other Operations. The Food Retailing segment consists of its subsidiary, Sobeys Inc, which owns, affiliates or franchises over 1,500 stores in approximately 10 provinces under retail banners that include Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawton’s Drug Stores, as well as more than 350 retail fuel locations. The Company’s Investments and Other Operations segment includes equity accounted interest in Crombie REIT, which is an open-ended real estate investment trust owning a portfolio of over 260 retail and office properties across Canada, and equity accounted interests in Genstar Development Partnership, Genstar Development Partnership II, GDC Investments 4, L.P., GDC Investments 6, L.P., GDC Investments 7, L.P., GDC Investments 8, L.P.