Empire Company Limited (TSE:EMP.A) Receives Average Rating of “Buy” from Analysts

Shares of Empire Company Limited (TSE:EMP.AGet Rating) have been given an average recommendation of “Buy” by the ten research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$47.40.

EMP.A has been the topic of a number of recent research reports. CIBC raised their price objective on shares of Empire from C$49.00 to C$50.00 and gave the company an “outperform” rating in a research note on Friday, March 11th. BMO Capital Markets raised their price objective on shares of Empire from C$41.00 to C$46.00 in a research note on Friday, March 11th. Royal Bank of Canada increased their target price on shares of Empire from C$46.00 to C$48.00 and gave the stock a “sector perform” rating in a report on Friday, March 11th. TD Securities increased their target price on shares of Empire from C$44.00 to C$50.00 and gave the stock a “buy” rating in a report on Friday, March 11th. Finally, Scotiabank raised their price objective on shares of Empire from C$48.00 to C$50.00 in a report on Friday, March 11th.

EMP.A opened at C$41.89 on Wednesday. Empire has a one year low of C$36.20 and a one year high of C$46.04. The stock has a market capitalization of C$11.00 billion and a P/E ratio of 15.12. The company has a debt-to-equity ratio of 152.06, a current ratio of 0.86 and a quick ratio of 0.43. The company’s 50 day simple moving average is C$43.42 and its 200-day simple moving average is C$40.25.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Friday, April 29th were paid a $0.15 dividend. The ex-dividend date was Wednesday, April 13th. This represents a $0.60 annualized dividend and a yield of 1.43%. Empire’s payout ratio is currently 20.94%.

In other news, Senior Officer Douglas Bigler Nathanson sold 11,321 shares of Empire stock in a transaction dated Tuesday, April 12th. The shares were sold at an average price of C$45.06, for a total value of C$510,124.26. Following the completion of the transaction, the insider now owns 18,442 shares of the company’s stock, valued at approximately C$830,996.52. Also, Senior Officer Pierre St-Laurent sold 7,995 shares of Empire stock in a transaction dated Friday, April 8th. The shares were sold at an average price of C$45.01, for a total transaction of C$359,854.95. Following the completion of the transaction, the insider now directly owns 1,456 shares of the company’s stock, valued at approximately C$65,534.56.

Empire Company Profile (Get Rating)

Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,500 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawtons Drugs; and approximately 350 retail fuel locations.

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Analyst Recommendations for Empire (TSE:EMP.A)

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