Empire (TSE:EMP.A) Price Target Raised to C$58.00

Empire (TSE:EMP.A) had its price target boosted by Canadian Imperial Bank of Commerce from C$54.00 to C$58.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s target price would indicate a potential upside of 12.56% from the company’s previous close.

EMP.A has been the subject of several other research reports. National Bank Financial upped their target price on Empire from C$54.00 to C$55.00 and gave the stock a “sector perform” rating in a research report on Monday. Scotiabank lowered Empire from an “outperform” rating to a “sector perform” rating and set a C$52.00 price objective for the company. in a report on Thursday, April 9th. Royal Bank Of Canada upped their target price on Empire from C$55.00 to C$58.00 and gave the company a “sector perform” rating in a report on Friday. Finally, Desjardins set a C$53.00 target price on Empire and gave the company a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Empire presently has a consensus rating of “Hold” and an average target price of C$54.14.

Empire Trading Up 0.5%

Empire stock traded up C$0.28 during trading on Friday, reaching C$51.53. The company had a trading volume of 119,605 shares, compared to its average volume of 479,892. Empire has a 12-month low of C$43.81 and a 12-month high of C$58.32. The stock’s 50 day moving average price is C$47.81 and its two-hundred day moving average price is C$48.08. The firm has a market capitalization of C$11.68 billion, a price-to-earnings ratio of 76.91, a PEG ratio of 16.20 and a beta of -0.20. The company has a debt-to-equity ratio of 135.51, a quick ratio of 0.29 and a current ratio of 0.79.

Empire (TSE:EMP.A) last released its quarterly earnings data on Thursday, June 18th. The company reported C$0.94 EPS for the quarter. The business had revenue of C$7.81 billion during the quarter. Empire had a return on equity of 12.94% and a net margin of 2.18%. As a group, equities analysts expect that Empire will post 2.9581227 earnings per share 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.