Q1 2023 EPS Estimates for Loblaw Companies Limited Increased by National Bank Financial (TSE:L)

Loblaw Companies Limited (TSE:L – Get Rating) – Investment analysts at National Bank Financial raised their Q1 2023 earnings per share estimates for shares of Loblaw Companies in a research note issued on Wednesday, July 27th. National Bank Financial analyst V. Shreedhar now anticipates that the company will post earnings of $1.50 per share for the quarter, up from their prior estimate of $1.49. The consensus estimate for Loblaw Companies’ current full-year earnings is $7.06 per share. National Bank Financial also issued estimates for Loblaw Companies’ Q2 2023 earnings at $1.85 EPS.

Other equities analysts have also recently issued research reports about the company. Scotiabank upped their price target on Loblaw Companies from C$116.00 to C$118.00 in a report on Thursday. CIBC upped their price target on Loblaw Companies from C$129.00 to C$136.00 in a report on Thursday. National Bankshares upped their price target on Loblaw Companies from C$125.00 to C$127.00 and gave the stock an “outperform” rating in a report on Thursday. Desjardins upped their price target on Loblaw Companies from C$116.00 to C$124.00 in a report on Thursday. Finally, BMO Capital Markets upped their price target on Loblaw Companies from C$118.00 to C$123.00 in a report on Thursday. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$120.50.

Loblaw Companies Stock Down 2.6 %

Shares of TSE:L opened at C$116.57 on Friday. The stock has a market capitalization of C$38.20 billion and a P/E ratio of 19.93. Loblaw Companies has a 1 year low of C$83.21 and a 1 year high of C$123.18. The stock has a 50-day simple moving average of C$115.91 and a 200-day simple moving average of C$110.64. The company has a debt-to-equity ratio of 142.06, a quick ratio of 0.77 and a current ratio of 1.39.

Loblaw Companies (TSE:L – Get Rating) last issued its earnings results on Wednesday, May 4th. The company reported C$1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.31 by C$0.05. The firm had revenue of C$12.26 billion for the quarter, compared to analysts’ expectations of C$12.36 billion.

Loblaw Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Wednesday, September 14th. Loblaw Companies’s payout ratio is 24.44%.

Insider Buying and Selling at Loblaw Companies

In related news, Director Richard Dufresne sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of C$112.55, for a total transaction of C$562,772.00. Following the sale, the director now directly owns 5,884 shares of the company’s stock, valued at approximately C$662,270.09.

About Loblaw Companies

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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.