National Bankshares Boosts Loblaw Companies (TSE:L) Price Target to C$84.00

Loblaw Companies (TSE:L) had its price objective lifted by National Bankshares from C$77.00 to C$84.00 in a report released on Monday morning, BayStreet.CA reports.

A number of other research firms also recently weighed in on L. Scotiabank upped their target price on Loblaw Companies from C$72.00 to C$73.00 in a research report on Thursday, May 6th. National Bank Financial upped their target price on Loblaw Companies to C$84.00 and gave the stock a na rating in a research report on Monday. CIBC upped their target price on Loblaw Companies from C$78.00 to C$87.00 in a research report on Thursday, May 6th. TD Securities raised Loblaw Companies from a hold rating to a buy rating and upped their price target for the company from C$76.00 to C$80.00 in a report on Thursday, May 6th. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a C$96.00 price target on shares of Loblaw Companies in a report on Wednesday, June 30th. Six equities research analysts have rated the stock with a buy rating, Loblaw Companies presently has an average rating of Buy and a consensus target price of C$83.86.

Shares of TSE L opened at C$79.24 on Monday. The firm has a market capitalization of C$27.11 billion and a P/E ratio of 24.02. The company has a debt-to-equity ratio of 149.79, a quick ratio of 0.68 and a current ratio of 1.35. Loblaw Companies has a 12-month low of C$60.86 and a 12-month high of C$80.88. The business’s 50 day simple moving average is C$75.95.

Loblaw Companies (TSE:L) last released its earnings results on Wednesday, May 5th. The company reported C$1.13 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.91 by C$0.22. The firm had revenue of C$11.87 billion during the quarter, compared to analyst estimates of C$11.80 billion. As a group, equities research analysts forecast that Loblaw Companies will post 5.4899998 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 1st. Shareholders of record on Tuesday, June 15th were paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Monday, June 14th. Loblaw Companies’s dividend payout ratio (DPR) is currently 39.41%.

In other news, Senior Officer Jocyanne C. Bourdeau sold 13,172 shares of the stock in a transaction on Friday, May 7th. The stock was sold at an average price of C$70.46, for a total value of C$928,084.63.

Loblaw Companies Company Profile

Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses 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.

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Analyst Recommendations for Loblaw Companies (TSE:L)

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