Loblaw Companies Limited (TSE:L) Given Average Rating of “Buy” by Brokerages

Loblaw Companies Limited (TSE:LGet Rating) has earned an average recommendation of “Buy” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is C$112.50.

L has been the subject of a number of recent research reports. National Bankshares lifted their target price on Loblaw Companies from C$120.00 to C$122.00 and gave the company an “outperform” rating in a report on Thursday, May 5th. Royal Bank of Canada lifted their target price on Loblaw Companies from C$120.00 to C$133.00 and gave the company an “outperform” rating in a report on Thursday, April 28th. CIBC lifted their target price on Loblaw Companies from C$116.00 to C$120.00 and gave the company an “outperform” rating in a report on Friday, February 25th. TD Securities lifted their target price on Loblaw Companies from C$115.00 to C$125.00 and gave the company a “buy” rating in a report on Tuesday, March 15th. Finally, ATB Capital lifted their target price on Loblaw Companies from C$105.00 to C$115.00 and gave the company an “outperform” rating in a report on Friday, February 25th.

In related news, Director Alannah Elizabeth Weston sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of C$110.61, for a total value of C$1,106,098.00. Following the transaction, the director now owns 30,000 shares in the company, valued at approximately C$3,318,294. Also, Director Willard Galen Garfield Weston sold 35,667 shares of the business’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of C$99.31, for a total value of C$3,541,922.14. Following the completion of the transaction, the director now owns 183,636 shares in the company, valued at approximately C$18,236,028.07. Insiders have sold 94,896 shares of company stock worth $9,562,160 in the last quarter.

Shares of TSE L opened at C$111.18 on Friday. Loblaw Companies has a twelve month low of C$73.63 and a twelve month high of C$119.58. 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 stock has a fifty day simple moving average of C$113.97 and a 200-day simple moving average of C$105.08. The stock has a market capitalization of C$37.01 billion and a PE ratio of 20.40.

Loblaw Companies (TSE:LGet Rating) last released its 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 company had revenue of C$12.76 billion during the quarter, compared to analysts’ expectations of C$12.63 billion. On average, equities analysts predict that Loblaw Companies will post 6.9699994 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.46%. This is a boost from Loblaw Companies’s previous quarterly dividend of $0.37. Loblaw Companies’s payout ratio is 26.24%.

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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