Desjardins Raises Loblaw Companies (TSE:L) Price Target to C$116.00

Loblaw Companies (TSE:LGet Rating) had its target price increased by Desjardins from C$110.00 to C$116.00 in a report issued on Thursday, BayStreet.CA reports. Desjardins also issued estimates for Loblaw Companies’ Q2 2022 earnings at $1.60 EPS, Q3 2022 earnings at $1.84 EPS, Q4 2022 earnings at $1.61 EPS, FY2022 earnings at $6.41 EPS and FY2023 earnings at $7.05 EPS.

A number of other brokerages have also issued reports on L. Scotiabank increased their price target on Loblaw Companies from C$112.00 to C$116.00 in a research note on Tuesday, March 15th. CIBC raised their price objective on Loblaw Companies from C$116.00 to C$120.00 and gave the stock an outperform rating in a research note on Friday, February 25th. TD Securities raised their price objective on Loblaw Companies from C$115.00 to C$125.00 and gave the stock a buy rating in a research note on Tuesday, March 15th. Royal Bank of Canada raised their price objective on Loblaw Companies from C$120.00 to C$133.00 and gave the stock an outperform rating in a research note on Thursday, April 28th. Finally, ATB Capital raised their price objective on Loblaw Companies from C$105.00 to C$115.00 and gave the stock an outperform rating in a research note on Friday, February 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Loblaw Companies presently has an average rating of Buy and a consensus target price of C$112.50.

Shares of TSE L opened at C$112.25 on Thursday. The stock has a fifty day moving average price of C$112.80 and a two-hundred day moving average price of C$103.56. The company has a debt-to-equity ratio of 141.04, a quick ratio of 0.78 and a current ratio of 1.37. The firm has a market cap of C$37.44 billion and a P/E ratio of 20.60. Loblaw Companies has a 1 year low of C$69.70 and a 1 year high of C$119.58.

Loblaw Companies (TSE:LGet Rating) last issued its quarterly earnings results on Thursday, February 24th. The company reported C$1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.37 by C$0.15. The firm had revenue of C$12.76 billion for the quarter, compared to the consensus estimate of C$12.63 billion. On average, research analysts predict that Loblaw Companies will post 6.8699994 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 15th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 1.44%. This is an increase from Loblaw Companies’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, June 14th. Loblaw Companies’s payout ratio is presently 25.69%.

In other news, Director Willard Galen Garfield Weston sold 16,849 shares of Loblaw Companies stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of C$98.88, for a total value of C$1,666,054.39. Following the completion of the transaction, the director now owns 183,636 shares in the company, valued at C$18,158,203.13. Also, Director Alannah Elizabeth Weston sold 10,000 shares of Loblaw Companies stock in a transaction that occurred on Wednesday, March 23rd. The shares were sold at an average price of C$110.61, for a total transaction of C$1,106,098.00. Following the completion of the transaction, the director now owns 30,000 shares of the company’s stock, valued at approximately C$3,318,294. Insiders sold 94,896 shares of company stock valued at $9,562,160 in the last quarter.

Loblaw Companies Company Profile (Get Rating)

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.

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Analyst Recommendations for Loblaw Companies (TSE:L)

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