Loblaw Companies (TSE:L) Price Target Raised to C$70.00

Loblaw Companies (TSE:L) had its price objective hoisted by Desjardins from C$67.00 to C$70.00 in a research note published on Thursday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on the company. Canadian Imperial Bank of Commerce lifted their price objective on Loblaw Companies from C$58.50 to C$67.00 in a report on Thursday, November 13th. BMO Capital Markets upped their price objective on shares of Loblaw Companies from C$63.00 to C$68.00 and gave the stock a “market perform” rating in a research note on Monday, February 23rd. Royal Bank Of Canada raised their price objective on shares of Loblaw Companies from C$68.00 to C$72.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. TD Securities boosted their target price on Loblaw Companies from C$65.00 to C$75.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Finally, National Bank Financial increased their price target on Loblaw Companies from C$62.00 to C$66.00 and gave the stock 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 given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Loblaw Companies currently has a consensus rating of “Moderate Buy” and an average price target of C$92.63.

Loblaw Companies Price Performance

Shares of TSE:L opened at C$63.22 on Thursday. The company has a market cap of C$74.67 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 3.23 and a beta of 0.30. The business has a 50 day moving average price of C$63.81 and a 200 day moving average price of C$64.68. The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 166.11. Loblaw Companies has a twelve month low of C$45.47 and a twelve month high of C$69.59.

Loblaw Companies (TSE:L) last posted its quarterly earnings data on Wednesday, February 25th. The company reported C$0.67 earnings per share (EPS) for the quarter. The company had revenue of C$15.70 billion for the quarter. Loblaw Companies had a net margin of 3.71% and a return on equity of 19.90%. Research analysts predict that Loblaw Companies will post 9.1225541 earnings per share for the current year.

Loblaw Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 30th were paid a dividend of $0.1411 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, December 15th. Loblaw Companies’s dividend payout ratio is 26.31%.

Loblaw Companies Company Profile

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.