Empire (TSE:EMP.A) Price Target Raised to C$42.00

Empire (TSE:EMP.A) had its target price boosted by BMO Capital Markets from C$36.00 to C$42.00 in a research note released on Friday morning, BayStreet.CA reports.

Several other equities research analysts also recently commented on EMP.A. National Bank Financial increased their price objective on Empire from C$34.00 to C$37.00 and gave the company an outperform rating in a report on Friday, June 28th. CIBC downgraded Empire from an outperform rating to a neutral rating and increased their price objective for the company from C$33.00 to C$34.00 in a report on Tuesday, July 2nd. Raymond James reissued a market perform rating and issued a C$32.00 price objective on shares of Empire in a report on Friday, June 21st. Royal Bank of Canada increased their price objective on Empire from C$32.00 to C$35.00 and gave the company a sector perform rating in a report on Friday, June 28th. Finally, TD Securities increased their price objective on Empire from C$34.00 to C$37.00 and gave the company a hold rating in a report on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Empire presently has an average rating of Hold and an average price target of C$34.94.

TSE EMP.A opened at C$35.93 on Friday. The company has a market cap of $6.24 billion and a PE ratio of 25.30. The company has a current ratio of 0.98, a quick ratio of 0.38 and a debt-to-equity ratio of 49.50. Empire has a 12 month low of C$22.38 and a 12 month high of C$37.10. The stock has a 50 day moving average of C$34.87 and a 200-day moving average of C$31.56.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 31st were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Friday, July 12th. This is a boost from Empire’s previous quarterly dividend of $0.11. Empire’s dividend payout ratio is 33.80%.

About Empire

Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,500 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawtons Drugs; and approximately 350 retail fuel locations.

Recommended Story: Price Target

Analyst Recommendations for Empire (TSE:EMP.A)

Receive News & Ratings for Empire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Empire and related companies with MarketBeat.com's FREE daily email newsletter.