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

Loblaw Companies Limited (TSE:L – Get Rating) – Equities research analysts at National Bank Financial upped their Q2 2022 earnings per share (EPS) estimates for shares of Loblaw Companies in a report released on Wednesday, May 4th. National Bank Financial analyst V. Shreedhar now expects that the company will post earnings of $1.60 per share for the quarter, up from their prior forecast of $1.54. National Bank Financial also issued estimates for Loblaw Companies’ Q3 2022 earnings at $1.82 EPS, FY2022 earnings at $6.39 EPS, Q1 2023 earnings at $1.48 EPS, Q2 2023 earnings at $1.74 EPS and FY2023 earnings at $6.95 EPS.

Other research analysts also recently issued research reports about the stock. National Bankshares raised their price target on shares of Loblaw Companies from C$120.00 to C$122.00 and gave the company an “outperform” rating in a report on Thursday. TD Securities raised their price target on shares of Loblaw Companies from C$115.00 to C$125.00 and gave the company a “buy” rating in a report on Tuesday, March 15th. CIBC raised their price target on shares of Loblaw Companies from C$116.00 to C$120.00 and gave the company an “outperform” rating in a report on Friday, February 25th. Scotiabank lifted their target price on shares of Loblaw Companies from C$112.00 to C$116.00 in a report on Tuesday, March 15th. Finally, Royal Bank of Canada lifted their target price on shares of Loblaw Companies from C$120.00 to C$133.00 and gave the stock an “outperform” rating in a report on Thursday, April 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Loblaw Companies currently has a consensus rating of “Buy” and a consensus price target of C$112.50.

Loblaw Companies stock opened at C$112.25 on Friday. The company has a market capitalization of C$37.44 billion and a P/E ratio of 20.60. The firm’s fifty day simple moving average is C$112.80 and its 200-day simple moving average is C$103.56. The company has a current ratio of 1.37, a quick ratio of 0.78 and a debt-to-equity ratio of 141.04. Loblaw Companies has a 1-year low of C$69.70 and a 1-year high of C$119.58.

Loblaw Companies (TSE:L – Get Rating) last released its quarterly earnings results on Thursday, February 24th. The company reported C$1.52 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.37 by C$0.15. The business had revenue of C$12.76 billion for the quarter, compared to the consensus estimate of C$12.63 billion.

In other news, Senior Officer Kieran Barry Columb sold 23,956 shares of Loblaw Companies stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of C$100.81, for a total transaction of C$2,415,107.37. Following the sale, the insider now directly owns 32,021 shares in the company, valued at approximately C$3,228,174.70. Also, Director Alannah Elizabeth Weston sold 10,000 shares of Loblaw Companies 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 owns 30,000 shares in the company, valued at C$3,318,294. In the last 90 days, insiders have sold 94,896 shares of company stock worth $9,562,160.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th will be issued a dividend of $0.405 per share. 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. This represents a $1.62 annualized dividend and a dividend yield of 1.44%. Loblaw Companies’s payout ratio is presently 25.69%.

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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