Loblaw Companies Limited Expected to Earn Q2 2022 Earnings of $1.60 Per Share (TSE:L)

Loblaw Companies Limited (TSE:LGet Rating) – Equities research analysts at Desjardins increased their Q2 2022 earnings per share (EPS) estimates for shares of Loblaw Companies in a research report issued on Wednesday, May 4th. Desjardins analyst C. Li now forecasts that the company will post earnings of $1.60 per share for the quarter, up from their previous forecast of $1.57. Desjardins also issued estimates for Loblaw Companies’ 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.

Loblaw Companies (TSE:LGet Rating) last announced its earnings results on Thursday, February 24th. The company reported C$1.52 EPS for the quarter, topping the consensus estimate of C$1.37 by C$0.15. The business had revenue of C$12.76 billion for the quarter, compared to analyst estimates of C$12.63 billion.

Other analysts have also issued reports about the stock. CIBC upped their price target on shares of Loblaw Companies from C$116.00 to C$120.00 and gave the stock an “outperform” rating in a research report on Friday, February 25th. ATB Capital increased their price objective on shares of Loblaw Companies from C$105.00 to C$115.00 and gave the company an “outperform” rating in a research report on Friday, February 25th. Royal Bank of Canada increased their price objective on shares of Loblaw Companies from C$120.00 to C$133.00 and gave the company an “outperform” rating in a research report on Thursday, April 28th. Scotiabank increased their price objective on shares of Loblaw Companies from C$112.00 to C$116.00 in a research report on Tuesday, March 15th. Finally, TD Securities increased their price objective on shares of Loblaw Companies from C$115.00 to C$125.00 and gave the company a “buy” rating in a research report on Tuesday, March 15th. One equities 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 MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$112.50.

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

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

In other Loblaw Companies news, Director Alannah Elizabeth Weston sold 10,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 30,000 shares in the company, valued at C$3,318,294. Also, Senior Officer Jocyanne C. Bourdeau sold 8,424 shares of the stock in a transaction dated Monday, February 28th. The stock was sold at an average price of C$98.88, for a total transaction of C$832,977.76. Following the sale, the insider now owns 6,441 shares in the company, valued at C$636,895.74. Insiders sold 94,896 shares of company stock worth $9,562,160 over the last 90 days.

About Loblaw Companies (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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Earnings History and Estimates for Loblaw Companies (TSE:L)

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