Loblaw Companies (TSE:L) – Investment analysts at National Bank Financial raised their Q1 2018 earnings estimates for Loblaw Companies in a research note issued to investors on Wednesday, April 18th. National Bank Financial analyst V. Shreedhar now expects that the company will post earnings per share of $0.96 for the quarter, up from their prior estimate of $0.92. National Bank Financial has a “Sector Perform” rating and a $71.00 price target on the stock. National Bank Financial also issued estimates for Loblaw Companies’ Q2 2018 earnings at $1.15 EPS, Q3 2018 earnings at $1.47 EPS, Q4 2018 earnings at $1.23 EPS and FY2018 earnings at $4.81 EPS.
Several other research analysts also recently weighed in on L. Desjardins upgraded Loblaw Companies from a “hold” rating to a “buy” rating and boosted their price target for the company from C$76.00 to C$77.00 in a report on Friday, February 23rd. Scotiabank dropped their price objective on Loblaw Companies from C$76.00 to C$73.00 and set a “sector perform” rating for the company in a report on Friday, February 23rd. CIBC dropped their price objective on Loblaw Companies from C$83.00 to C$79.00 in a report on Friday, February 23rd. Raymond James dropped their price objective on Loblaw Companies from C$85.00 to C$82.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Finally, Royal Bank of Canada dropped their price objective on Loblaw Companies from C$87.00 to C$84.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Loblaw Companies presently has an average rating of “Buy” and a consensus target price of C$77.90.
Loblaw Companies (TSE:L) last issued its quarterly earnings results on Thursday, February 22nd. The company reported C$1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.12 by C$0.01. The company had revenue of C$11.03 billion during the quarter, compared to the consensus estimate of C$11.02 billion. Loblaw Companies had a return on equity of 0.73% and a net margin of 0.33%.
The firm also recently declared a quarterly dividend, which was paid on Sunday, April 1st. Investors of record on Sunday, April 1st were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.65%.
In other Loblaw Companies news, insider Garry Senecal sold 23,298 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of C$64.76, for a total value of C$1,508,778.48. Also, insider Kieran Barry Columb sold 17,916 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of C$64.34, for a total transaction of C$1,152,715.44. Over the last ninety days, insiders have sold 92,858 shares of company stock valued at $6,031,606.
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About Loblaw Companies
Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy, health and beauty, apparel, general merchandise, credit card, insurance brokerage, gift card, and telecommunication services in Canada. It operates through three segments: Retail, Financial Services, and Choice Properties.
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