Empire (TSE:EMP.A) Price Target Cut to C$45.00 by Analysts at CIBC

Empire (TSE:EMP.AGet Rating) had its target price reduced by CIBC from C$47.00 to C$45.00 in a report published on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other brokerages also recently commented on EMP.A. Desjardins decreased their price objective on shares of Empire from C$48.00 to C$44.00 in a research report on Friday. National Bankshares decreased their price objective on shares of Empire from C$42.00 to C$40.00 in a research report on Friday. Finally, BMO Capital Markets decreased their price objective on shares of Empire from C$42.00 to C$37.00 in a research report on Friday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Empire currently has an average rating of Moderate Buy and a consensus target price of C$44.44.

Empire Stock Up 2.0 %

Shares of EMP.A stock opened at C$36.65 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.35 and a debt-to-equity ratio of 145.35. Empire has a 1 year low of C$34.71 and a 1 year high of C$46.04. The firm’s fifty day moving average price is C$38.78 and its two-hundred day moving average price is C$40.90. The firm has a market capitalization of C$9.59 billion and a P/E ratio of 13.09.

Empire Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 29th were issued a dividend of $0.165 per share. This is an increase from Empire’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, July 14th. This represents a $0.66 annualized dividend and a dividend yield of 1.80%. Empire’s payout ratio is presently 21.43%.

Empire Company Profile

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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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