Desjardins Forecasts Strong Price Appreciation for Loblaw Companies (TSE:L) Stock

Loblaw Companies (TSE:L) had its price objective upped by Desjardins from C$172.00 to C$190.00 in a report issued on Thursday morning,BayStreet.CA reports. Desjardins also issued estimates for Loblaw Companies’ Q4 2024 earnings at $2.21 EPS, FY2024 earnings at $8.57 EPS and FY2025 earnings at $9.38 EPS.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada boosted their price objective on shares of Loblaw Companies from C$183.00 to C$205.00 in a research report on Tuesday, November 12th. National Bankshares boosted their target price on shares of Loblaw Companies from C$188.00 to C$195.00 in a report on Thursday. TD Securities dropped their price target on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a research note on Thursday. BMO Capital Markets lifted their price objective on Loblaw Companies from C$160.00 to C$180.00 in a research note on Friday, July 26th. Finally, CIBC raised their price target on shares of Loblaw Companies from C$171.00 to C$189.00 in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$191.29.

Loblaw Companies Price Performance

Shares of TSE:L opened at C$181.49 on Thursday. The stock has a market cap of C$55.43 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. The business’s fifty day moving average price is C$177.66 and its two-hundred day moving average price is C$168.24. Loblaw Companies has a one year low of C$116.81 and a one year high of C$188.77. The company has a debt-to-equity ratio of 163.32, a quick ratio of 0.68 and a current ratio of 1.36.

Loblaw Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Sunday, December 15th will be given a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a yield of 1.13%. Loblaw Companies’s dividend payout ratio (DPR) is presently 31.06%.

About Loblaw Companies

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.