Empire (TSE:EMP.A) PT Set at C$53.00 by Desjardins

Empire (TSE:EMP.A) has been assigned a C$53.00 target price by Desjardins in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ target price suggests a potential upside of 7.51% from the company’s previous close.

Separately, Scotiabank cut Empire from an “outperform” rating to a “sector perform” rating and set a C$52.00 target price on the stock. in a report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Empire has a consensus rating of “Hold” and an average target price of C$53.00.

Empire Stock Performance

EMP.A traded down C$0.03 during trading on Monday, reaching C$49.30. 96,138 shares of the company were exchanged, compared to its average volume of 481,484. The stock has a market cap of C$11.17 billion, a P/E ratio of 73.58, a PEG ratio of 16.20 and a beta of -0.20. The firm has a 50 day moving average of C$47.85 and a 200 day moving average of C$48.14. Empire has a 52 week low of C$43.81 and a 52 week high of C$58.32. The company has a current ratio of 0.79, a quick ratio of 0.29 and a debt-to-equity ratio of 135.51.

Empire (TSE:EMP.A) last posted its earnings results on Thursday, March 12th. The company reported C$0.72 EPS for the quarter. The firm had revenue of C$7.89 billion during the quarter. Empire had a net margin of 2.18% and a return on equity of 12.94%. On average, sell-side analysts forecast that Empire will post 2.9581227 EPS for the current fiscal year.

About Empire

Empire Co Ltd key businesses are food retailing, investments, and other operations. The food retailing division operates through Empire’s subsidiary Sobeys and represents nearly all of the company’s income. This segment owns, affiliates, or franchises more than 1,500 stores in 10 provinces, under retail banners including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Lawton’s Drug Stores, and multiple retail fuel locations. The company’s investment and other operations segment include the investment in Crombie REIT, which is an open-ended Canadian real estate investment trust, as well as the Genstar Development Partnership.