Desjardins Weighs in on Loblaw Companies Limited’s Q3 2024 Earnings (TSE:L)

Loblaw Companies Limited (TSE:L) – Analysts at Desjardins upped their Q3 2024 EPS estimates for Loblaw Companies in a report issued on Wednesday, May 1st. Desjardins analyst C. Li now forecasts that the company will post earnings per share of $2.49 for the quarter, up from their prior estimate of $2.47. Desjardins currently has a “Hold” rating and a $157.00 target price on the stock. The consensus estimate for Loblaw Companies’ current full-year earnings is $8.49 per share. Desjardins also issued estimates for Loblaw Companies’ Q4 2024 earnings at $2.14 EPS and FY2024 earnings at $8.50 EPS.

Loblaw Companies (TSE:L) last posted its quarterly earnings results on Thursday, February 22nd. The company reported C$2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.92 by C$0.08. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%. The business had revenue of C$14.53 billion during the quarter, compared to analysts’ expectations of C$14.58 billion.

Several other brokerages have also issued reports on L. Royal Bank of Canada lifted their target price on shares of 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. BMO Capital Markets boosted their price target on shares of Loblaw Companies from C$130.00 to C$145.00 in a research report on Friday, February 23rd. National Bankshares boosted their price target on shares of Loblaw Companies from C$156.00 to C$159.00 and gave the stock an “outperform” rating in a research report on Thursday. TD Securities boosted their price target on shares of Loblaw Companies from C$168.00 to C$172.00 and gave the stock a “buy” rating in a research report on Friday. Finally, CIBC lifted their target price on shares of Loblaw Companies from C$159.00 to C$171.00 and gave the stock an “outperform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$162.43.

Loblaw Companies Stock Down 0.4 %

L opened at C$153.93 on Friday. The company has a fifty day moving average of C$149.29 and a two-hundred day moving average of C$133.72. Loblaw Companies has a fifty-two week low of C$110.52 and a fifty-two week high of C$155.22. The stock has a market capitalization of C$47.60 billion, a price-to-earnings ratio of 23.61, a PEG 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Saturday, June 15th will be issued a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Friday, June 14th. This is a boost from Loblaw Companies’s previous quarterly dividend of $0.45. Loblaw Companies’s payout ratio is 27.30%.

Insiders Place Their Bets

In related news, Senior Officer Kieran Barry Columb sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of C$150.00, for a total value of C$1,500,000.00. In related news, Senior Officer Kieran Barry Columb sold 10,000 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of C$150.00, for a total transaction of C$1,500,000.00. Also, Senior Officer Frank Gambioli sold 4,603 shares of the 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. Insiders sold 71,495 shares of company stock worth $10,547,163 in the last 90 days. Corporate insiders own 52.69% of the company’s stock.

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.