Loblaw Companies Limited Forecasted to Earn Q3 2024 Earnings of $2.39 Per Share (TSE:L)

Loblaw Companies Limited (TSE:L) – Equities researchers at National Bank Financial boosted their Q3 2024 earnings estimates for shares of Loblaw Companies in a research report issued on Sunday, April 14th. National Bank Financial analyst V. Shreedhar now forecasts that the company will earn $2.39 per share for the quarter, up from their prior estimate of $2.33. The consensus estimate for Loblaw Companies’ current full-year earnings is $8.49 per share.

Loblaw Companies (TSE:L) last announced its quarterly earnings data on Thursday, February 22nd. The company reported C$2.00 EPS for the quarter, beating the consensus estimate of C$1.92 by C$0.08. The business had revenue of C$14.53 billion during the quarter, compared to the consensus estimate of C$14.58 billion. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%.

Other research analysts have also recently issued research reports about the company. Royal Bank of Canada lifted their target price on Loblaw Companies from C$170.00 to C$172.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. TD Securities upped their price objective on shares of Loblaw Companies from C$150.00 to C$160.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. National Bankshares raised their target price on shares of Loblaw Companies from C$153.00 to C$156.00 and gave the company an “outperform” rating in a research report on Monday. Desjardins upped their price target on shares of Loblaw Companies from C$133.00 to C$148.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Scotiabank raised their price objective on Loblaw Companies from C$137.00 to C$146.00 and gave the company a “sector perform” rating in a report on Friday, February 23rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Loblaw Companies presently has a consensus rating of “Moderate Buy” and an average target price of C$153.71.

Loblaw Companies Price Performance

Loblaw Companies stock opened at C$149.01 on Wednesday. The stock has a fifty day moving average of C$146.04 and a 200-day moving average of C$131.14. The stock has a market capitalization of C$46.08 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 2.53 and a beta of 0.12. The company has a debt-to-equity ratio of 156.41, a quick ratio of 0.68 and a current ratio of 1.25. Loblaw Companies has a 52 week low of C$110.52 and a 52 week high of C$154.70.

Insiders Place Their Bets

In other Loblaw Companies news, Senior Officer Frank Gambioli sold 4,603 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$144.00, for a total transaction of C$662,832.00. In related news, Senior Officer Kieran Barry Columb sold 6,955 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of C$145.84, for a total transaction of C$1,014,322.76. Also, Senior Officer Frank Gambioli sold 4,603 shares of Loblaw Companies stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$144.00, for a total value of C$662,832.00. In the last three months, insiders have sold 71,495 shares of company stock valued at $10,547,163. 52.69% of the stock is currently owned by company insiders.

Loblaw Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, April 1st were given a dividend of $0.446 per share. This represents a $1.78 annualized dividend and a yield of 1.20%. The ex-dividend date was Thursday, March 14th. Loblaw Companies’s dividend payout ratio is currently 27.30%.

Loblaw Companies Company Profile

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparels, general merchandise, financial services, and wireless mobile products and services 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.