Empire (TSE:EMP.A – Free Report) had its price objective cut by Scotiabank from C$37.00 to C$36.00 in a report published on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.
EMP.A has been the subject of a number of other reports. Royal Bank of Canada reduced their price target on shares of Empire from C$49.00 to C$43.00 and set a sector perform rating for the company in a research report on Friday, March 15th. National Bankshares reduced their target price on shares of Empire from C$41.00 to C$40.00 in a report on Friday, March 15th. TD Securities decreased their target price on shares of Empire from C$37.00 to C$36.00 and set a hold rating for the company in a research report on Friday, March 15th. Desjardins cut their price target on Empire from C$40.00 to C$39.00 and set a buy rating on the stock in a research report on Wednesday, March 6th. Finally, CIBC reduced their price objective on Empire from C$42.00 to C$40.00 in a research note on Friday, March 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Empire currently has an average rating of Hold and an average target price of C$38.43.
Check Out Our Latest Analysis on EMP.A
Empire Trading Up 0.4 %
Empire Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 30th will be given a dividend of $0.1825 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.73 annualized dividend and a yield of 2.27%. Empire’s dividend payout ratio is presently 24.17%.
Empire Company Profile
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.
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