Empire (TSE:EMP.A) Price Target Raised to C$41.00

Empire (TSE:EMP.A) had its price objective upped by National Bankshares from C$40.00 to C$41.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Several other research analysts also recently weighed in on EMP.A. BMO Capital Markets reduced their target price on Empire from C$37.00 to C$35.00 in a research note on Friday, March 15th. Desjardins reduced their price objective on shares of Empire from C$40.00 to C$39.00 and set a buy rating for the company in a research report on Wednesday, March 6th. Royal Bank of Canada dropped their target price on shares of Empire from C$42.00 to C$41.00 and set a sector perform rating on the stock in a research report on Friday. Scotiabank reduced their price target on shares of Empire from C$37.00 to C$36.00 and set an outperform rating for the company in a research report on Monday, April 22nd. Finally, TD Securities lowered their price objective on Empire from C$37.00 to C$36.00 and set a hold rating on the stock in a report on Friday, March 15th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of C$38.71.

Empire Price Performance

Shares of Empire stock opened at C$34.46 on Friday. The firm has a market cap of C$5.03 billion, a PE ratio of 11.41, a P/E/G ratio of 16.20 and a beta of 0.46. The business has a 50-day moving average price of C$32.72 and a 200 day moving average price of C$33.75. The company has a quick ratio of 0.29, a current ratio of 0.80 and a debt-to-equity ratio of 133.75. Empire has a twelve month low of C$31.45 and a twelve month high of C$40.69.

Empire Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 30th were paid a $0.1825 dividend. This represents a $0.73 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Friday, April 12th. Empire’s dividend payout ratio is currently 24.17%.

Insider Buying and Selling

In related news, Director William Linton sold 7,058 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of C$34.39, for a total value of C$242,690.74. Following the completion of the sale, the director now owns 875 shares of the company’s stock, valued at C$30,087.05. 1.99% of the stock is currently owned by company insiders.

About Empire

Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,500 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawtons Drugs; and approximately 350 retail fuel locations.