Loblaw Companies (OTCMKTS:LBLCF) Shares Gap Down Following Weak Earnings

Loblaw Companies Limited (OTCMKTS:LBLCF)’s stock price gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $50.26, but opened at $47.27. Loblaw Companies shares last traded at $47.27, with a volume of 160 shares traded.

The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.03). Loblaw Companies had a net margin of 4.13% and a return on equity of 25.38%. The firm had revenue of $11.92 billion during the quarter, compared to analyst estimates of $12.23 billion.

Loblaw Companies Trading Down 0.3%

The firm has a fifty day moving average of $46.52 and a 200-day moving average of $48.38. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.74 and a current ratio of 1.35. The stock has a market capitalization of $54.55 billion and a price-to-earnings ratio of 93.10.

Loblaw Companies Company Profile

Loblaw Companies Limited is Canada’s largest food and pharmacy retailer, operating a network of more than 2,400 corporate and franchise stores across every province and territory. Its grocery banners include Loblaws, No Frills, Real Canadian Superstore and Zehrs, while its joint venture with George Weston Limited underpins a portfolio of hard-discount and premium formats. Loblaw maintains its headquarters in Brampton, Ontario, and its shares trade on the Toronto Stock Exchange, with American depositary receipts quoted on OTCMKTS under the symbol LBLCF.

In addition to conventional grocery retailing, Loblaw provides pharmacy services through its Shoppers Drug Mart chain, one of Canada’s leading health and beauty networks.