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

Loblaw Companies (TSE:L) had its target price hoisted by Scotiabank from C$68.00 to C$70.00 in a research report released on Thursday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other analysts also recently weighed in on L. Royal Bank Of Canada boosted their target price 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. National Bank Financial upped their price objective 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. TD Securities lifted their price target on Loblaw Companies from C$65.00 to C$75.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. BMO Capital Markets increased their price objective on shares of Loblaw Companies from C$63.00 to C$68.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. Finally, Desjardins lifted their price target on Loblaw Companies from C$67.00 to C$70.00 and gave the stock a “buy” rating in a research note on Thursday. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$92.63.

Loblaw Companies Stock Down 1.4%

Shares of TSE L opened at C$63.22 on Thursday. Loblaw Companies has a 12-month low of C$45.47 and a 12-month high of C$69.59. The stock’s fifty day simple moving average is C$63.81 and its two-hundred day simple moving average is C$64.68. The stock has a market capitalization of C$74.67 billion, a PE ratio of 30.88, a price-to-earnings-growth ratio of 3.23 and a beta of 0.30. The company has a current ratio of 1.29, a quick ratio of 0.68 and a debt-to-equity ratio of 166.11.

Loblaw Companies (TSE:L) last announced its earnings results on Wednesday, February 25th. The company reported C$0.67 EPS for the quarter. The business had revenue of C$15.70 billion during the quarter. Loblaw Companies had a net margin of 3.71% and a return on equity of 19.90%. As a group, analysts expect that Loblaw Companies will post 9.1225541 EPS for the current fiscal year.

Loblaw Companies Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Tuesday, December 30th were issued a $0.1411 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.56 annualized dividend and a yield of 0.9%. Loblaw Companies’s dividend payout ratio (DPR) 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.