Loblaw Companies Ltd (TSE:L) Receives Consensus Recommendation of “Buy” from Analysts

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Loblaw Companies Ltd (TSE:L) has been assigned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$73.63.

L has been the topic of several research analyst reports. Raymond James reissued an “outperform” rating and issued a C$66.00 price target on shares of Loblaw Companies in a report on Thursday, February 14th. Desjardins cut shares of Loblaw Companies from a “buy” rating to a “hold” rating and increased their price target for the company from C$66.00 to C$70.00 in a report on Friday, February 22nd. BMO Capital Markets increased their price target on shares of Loblaw Companies from C$70.00 to C$83.00 in a report on Friday, February 22nd. CIBC increased their price target on shares of Loblaw Companies from C$70.00 to C$76.00 in a report on Friday, February 22nd. Finally, National Bank Financial increased their price target on shares of Loblaw Companies from C$67.00 to C$69.00 and gave the company a “sector perform” rating in a report on Friday, February 22nd.

In related news, Senior Officer Kieran Barry Columb sold 47,933 shares of Loblaw Companies stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of C$70.14, for a total value of C$3,362,020.62. Following the transaction, the insider now directly owns 9,834 shares of the company’s stock, valued at C$689,756.76. Also, Senior Officer Garry Senecal sold 22,000 shares of Loblaw Companies stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of C$68.91, for a total transaction of C$1,515,965.00. Following the completion of the transaction, the insider now directly owns 2,656 shares in the company, valued at C$183,018.32. Insiders have sold 139,199 shares of company stock worth $9,766,724 over the last ninety days.

Shares of Loblaw Companies stock traded up C$0.06 on Friday, hitting C$69.54. 196,331 shares of the company’s stock traded hands, compared to its average volume of 562,791. The stock has a market capitalization of $25.60 billion and a price-to-earnings ratio of 45.44. The company has a debt-to-equity ratio of 145.02, a quick ratio of 0.64 and a current ratio of 1.25. Loblaw Companies has a one year low of C$50.22 and a one year high of C$71.52.

Loblaw Companies (TSE:L) last issued its earnings results on Wednesday, May 1st. The company reported C$0.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.81 by C($0.03). The company had revenue of C$10.66 billion for the quarter, compared to analyst estimates of C$10.58 billion. As a group, research analysts forecast that Loblaw Companies will post 4.7459595 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, July 1st will be issued a dividend of $0.315 per share. The ex-dividend date is Thursday, June 13th. This is a boost from Loblaw Companies’s previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a dividend yield of 1.81%. Loblaw Companies’s dividend payout ratio (DPR) is currently 76.92%.

Loblaw Companies Company Profile

Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores comprising in-store pharmacies, other health and beauty product stores, apparel stores, and other general merchandise stores, as well as supports the PC Optimum reward program.

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Analyst Recommendations for Loblaw Companies (TSE:L)

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