Loblaw Companies (TSE:L) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Loblaw Companies Limited (TSE:L) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$60.43 and traded as high as C$63.79. Loblaw Companies shares last traded at C$63.12, with a volume of 1,169,360 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have commented on L shares. Royal Bank Of Canada boosted their price target on shares of Loblaw Companies from C$68.00 to C$72.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Desjardins raised their price objective on Loblaw Companies from C$67.00 to C$70.00 and gave the company a “buy” rating in a report on Thursday, February 26th. TD Securities lifted their target price on Loblaw Companies from C$65.00 to C$75.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Scotiabank upped their target price on Loblaw Companies from C$68.00 to C$70.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Finally, National Bank Financial increased their price target on Loblaw Companies from C$62.00 to C$66.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$92.63.

Loblaw Companies Trading Down 1.0%

The stock has a market cap of C$73.97 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 3.23 and a beta of 0.29. The company has a quick ratio of 0.68, a current ratio of 1.08 and a debt-to-equity ratio of 227.92. The business’s 50 day simple moving average is C$64.16 and its 200 day simple moving average is C$60.43.

Loblaw Companies (TSE:L) last released its quarterly earnings data on Wednesday, February 25th. The company reported C$0.67 earnings per share for the quarter. Loblaw Companies had a net margin of 4.17% and a return on equity of 24.03%. On average, research analysts expect that Loblaw Companies Limited will post 9.1225541 EPS for the current fiscal year.

Loblaw Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.1411 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, March 13th. Loblaw Companies’s payout ratio is 24.84%.

About Loblaw Companies

Loblaw is one of Canada’s largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.