Empire (TSE:EMP.A) Stock Crosses Above 200-Day Moving Average of $36.73

Shares of Empire Company Limited (TSE:EMP.AGet Rating) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$36.73 and traded as high as C$37.49. Empire shares last traded at C$36.88, with a volume of 507,692 shares trading hands.

Wall Street Analyst Weigh In

Separately, Scotiabank dropped their price target on shares of Empire from C$43.50 to C$42.50 in a research note on Tuesday, December 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$42.94.

Empire Price Performance

The business’s 50 day moving average is C$35.81 and its two-hundred day moving average is C$36.73. The firm has a market cap of C$9.53 billion and a P/E ratio of 13.12. The company has a quick ratio of 0.29, a current ratio of 0.75 and a debt-to-equity ratio of 137.80.

Empire Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Tuesday, January 31st will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Thursday, January 12th. Empire’s dividend payout ratio is presently 22.42%.

About Empire

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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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