Desjardins Raises Loblaw Companies (TSE:L) Price Target to C$172.00

Loblaw Companies (TSE:L) had its target price hoisted by Desjardins from C$157.00 to C$172.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports. Desjardins currently has a hold rating on the stock. Desjardins also issued estimates for Loblaw Companies’ Q2 2024 earnings at $2.14 EPS, Q4 2024 earnings at $2.15 EPS and FY2025 earnings at $9.31 EPS.

A number of other equities analysts also recently issued reports on the stock. CIBC lifted their price objective on shares of Loblaw Companies from C$159.00 to C$171.00 and gave the stock an outperform rating in a report on Thursday, May 2nd. TD Securities upped their price objective on shares of Loblaw Companies from C$172.00 to C$186.00 and gave the company a buy rating in a report on Monday. Scotiabank upped their price objective on shares of Loblaw Companies from C$148.27 to C$161.00 and gave the company a sector perform rating in a report on Thursday, May 2nd. Finally, National Bankshares upped their price target on Loblaw Companies from C$156.00 to C$159.00 and gave the company an outperform rating in a research report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of C$166.57.

Loblaw Companies Trading Down 0.4 %

L opened at C$168.30 on Tuesday. The company’s 50 day moving average is C$160.46 and its 200-day moving average is C$150.02. The company has a current ratio of 1.25, a quick ratio of 0.68 and a debt-to-equity ratio of 156.41. Loblaw Companies has a 1-year low of C$110.52 and a 1-year high of C$171.99. The company has a market cap of C$51.74 billion, a P/E ratio of 25.46, a PEG ratio of 2.53 and a beta of 0.12.

Loblaw Companies (TSE:L) last released its quarterly earnings data on Wednesday, May 1st. The company reported C$1.72 earnings per share for the quarter, beating the consensus estimate of C$1.70 by C$0.02. The company had revenue of C$13.58 billion during the quarter, compared to analyst estimates of C$13.29 billion. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%. Equities research analysts predict that Loblaw Companies will post 8.3923706 earnings per share for the current fiscal year.

Loblaw Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, July 1st were paid a $0.513 dividend. This is a positive change from Loblaw Companies’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, June 14th. This represents a $2.05 dividend on an annualized basis and a yield of 1.22%. Loblaw Companies’s dividend payout ratio (DPR) is presently 31.01%.

Insider Activity

In other Loblaw Companies news, Senior Officer Kieran Barry Columb sold 13,100 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of C$157.12, for a total value of C$2,058,249.73. In other news, Senior Officer Frank Gambioli sold 14,840 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of C$157.00, for a total value of C$2,329,880.00. Also, Senior Officer Kieran Barry Columb sold 13,100 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of C$157.12, for a total transaction of C$2,058,249.73. In the last 90 days, insiders have sold 83,929 shares of company stock valued at $13,160,644. Corporate insiders own 53.29% of the company’s stock.

Loblaw Companies Company Profile

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparels, general merchandise, financial services, and wireless mobile products and services in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores.