Loblaw Companies Limited (TSE:L) Receives C$89.75 Average Target Price from Analysts

Loblaw Companies Limited (TSE:L) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$89.75.

Several equities research analysts recently issued reports on the stock. National Bank Financial raised their target price on shares of Loblaw Companies from C$62.00 to C$66.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. Desjardins upgraded Loblaw Companies from a “hold” rating to a “buy” rating and upped their price objective for the company from C$62.00 to C$67.00 in a research note on Thursday, December 4th. TD Securities lifted their target price on Loblaw Companies from C$63.00 to C$65.00 in a research note on Thursday, November 13th. Canadian Imperial Bank of Commerce boosted their target price on Loblaw Companies from C$58.50 to C$67.00 in a report on Thursday, November 13th. Finally, BMO Capital Markets raised their price target on Loblaw Companies from C$57.50 to C$63.00 in a report on Thursday, November 13th.

Loblaw Companies Stock Performance

TSE L opened at C$68.49 on Wednesday. The firm has a market capitalization of C$80.90 billion, a P/E ratio of 33.45, 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. The firm’s fifty day moving average price is C$63.02 and its two-hundred day moving average price is C$72.61. Loblaw Companies has a 1 year low of C$43.32 and a 1 year high of C$68.92.

Loblaw Companies Cuts Dividend

The business also recently announced 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 0.8%. The ex-dividend date was Monday, December 15th. Loblaw Companies’s dividend payout ratio (DPR) is currently 26.31%.

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.