Empire (TSE:EMP.A) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Empire Company Limited (TSE:EMP.A) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$48.64 and traded as high as C$50.78. Empire shares last traded at C$49.98, with a volume of 635,569 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EMP.A. Canadian Imperial Bank of Commerce reduced their price objective on Empire from C$59.00 to C$53.00 and set an “outperform” rating on the stock in a research report on Friday, December 12th. Desjardins dropped their target price on Empire from C$60.00 to C$53.00 and set a “buy” rating for the company in a research report on Friday, December 12th. Royal Bank Of Canada cut their price target on Empire from C$61.00 to C$55.00 and set a “sector perform” rating on the stock in a research note on Friday, January 23rd. National Bank Financial reduced their price target on Empire from C$58.00 to C$54.00 and set a “sector perform” rating on the stock in a report on Friday, December 12th. Finally, TD Securities lowered their price objective on Empire from C$58.00 to C$50.00 and set a “hold” rating for the company in a research note on Friday, December 12th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$52.83.

Empire Trading Up 1.1%

The company has a debt-to-equity ratio of 135.51, a current ratio of 0.79 and a quick ratio of 0.29. The company has a market cap of C$11.33 billion, a price-to-earnings ratio of 74.60, a price-to-earnings-growth ratio of 16.20 and a beta of 0.01. The business’s fifty day moving average price is C$48.14 and its 200 day moving average price is C$48.64.

Empire (TSE:EMP.A) last posted its quarterly earnings data on Thursday, March 12th. The company reported C$0.72 earnings per share for the quarter. The business had revenue of C$7.89 billion during the quarter. Empire had a return on equity of 12.94% and a net margin of 2.18%. Research analysts anticipate that Empire Company Limited will post 2.9581227 earnings per share for the current fiscal year.

About Empire

Empire Co Ltd key businesses are food retailing, investments, and other operations. The food retailing division operates through Empire’s subsidiary Sobeys and represents nearly all of the company’s income. This segment owns, affiliates, or franchises more than 1,500 stores in 10 provinces, under retail banners including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Lawton’s Drug Stores, and multiple retail fuel locations. The company’s investment and other operations segment include the investment in Crombie REIT, which is an open-ended Canadian real estate investment trust, as well as the Genstar Development Partnership.