Analysts Set Empire Company Limited (TSE:EMP.A) Target Price at C$48.57

Shares of Empire Company Limited (TSE:EMP.A) have been given an average recommendation of “Hold” by the seven research firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$48.57.

Several equities research analysts have issued reports on EMP.A shares. Royal Bank of Canada lifted their price target on shares of Empire from C$42.00 to C$46.00 in a research note on Tuesday, November 12th. BMO Capital Markets lifted their target price on Empire from C$44.00 to C$48.00 in a research report on Friday, December 13th. TD Securities upped their target price on Empire from C$44.00 to C$48.00 and gave the stock a “hold” rating in a report on Friday, December 13th. Scotiabank raised their price target on Empire from C$44.00 to C$47.00 in a research note on Friday, December 13th. Finally, Desjardins upped their price objective on Empire from C$47.00 to C$50.00 in a research note on Sunday, December 15th.

Insider Buying and Selling at Empire

In related news, Senior Officer Simon Gagne sold 8,458 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of C$44.48, for a total transaction of C$376,211.84. Also, Director Michael Bennett Medline sold 75,844 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of C$44.83, for a total transaction of C$3,400,086.52. Insiders have sold a total of 96,154 shares of company stock worth $4,305,270 over the last ninety days. Insiders own 2.18% of the company’s stock.

Empire Price Performance

Shares of EMP.A opened at C$42.13 on Wednesday. The company has a 50 day moving average of C$43.34 and a 200-day moving average of C$40.88. The company has a quick ratio of 0.29, a current ratio of 0.79 and a debt-to-equity ratio of 135.51. The stock has a market capitalization of C$5.92 billion, a P/E ratio of 15.38, a P/E/G ratio of 16.20 and a beta of 0.48. Empire has a twelve month low of C$31.45 and a twelve month high of C$46.77.

Empire Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 31st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Wednesday, January 15th. Empire’s dividend payout ratio is 29.20%.

Empire Company Profile

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.