Desjardins Raises Loblaw Companies (TSE:L) Price Target to C$157.00

Loblaw Companies (TSE:L) had its target price upped by Desjardins from C$148.00 to C$157.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. The brokerage currently has a hold rating on the stock. Desjardins also issued estimates for Loblaw Companies’ Q1 2024 earnings at $1.72 EPS, Q2 2024 earnings at $2.14 EPS, Q3 2024 earnings at $2.47 EPS and FY2025 earnings at $9.27 EPS.

A number of other analysts have also weighed in on L. Royal Bank of Canada upped their target price on Loblaw Companies from C$170.00 to C$172.00 and gave the stock an outperform rating in a report on Wednesday, January 24th. Scotiabank upped their price target on Loblaw Companies from C$146.00 to C$148.27 and gave the stock a sector perform rating in a research report on Monday, April 22nd. TD Securities upped their price target on Loblaw Companies from C$150.00 to C$160.00 and gave the stock a buy rating in a research report on Friday, February 23rd. BMO Capital Markets upped their price target on Loblaw Companies from C$130.00 to C$145.00 in a research report on Friday, February 23rd. Finally, CIBC reduced their price target on Loblaw Companies from C$150.00 to C$149.00 and set an outperform rating on the stock in a research report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of C$155.32.

Loblaw Companies Stock Up 1.2 %

Shares of TSE L opened at C$152.84 on Monday. The company has a debt-to-equity ratio of 156.41, a quick ratio of 0.68 and a current ratio of 1.25. The firm has a market capitalization of C$47.27 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 2.53 and a beta of 0.12. The stock has a 50 day moving average price of C$149.05 and a 200 day moving average price of C$133.58. Loblaw Companies has a 52-week low of C$110.52 and a 52-week high of C$154.70.

Loblaw Companies (TSE:L) last announced its quarterly earnings results on Thursday, February 22nd. The company reported C$2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.92 by C$0.08. The firm had revenue of C$14.53 billion during the quarter, compared to analyst estimates of C$14.58 billion. Loblaw Companies had a return on equity of 18.96% and a net margin of 3.53%. Sell-side analysts expect that Loblaw Companies will post 8.4881297 earnings per share for the current year.

Loblaw Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, April 1st were given a $0.446 dividend. This represents a $1.78 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, March 14th. Loblaw Companies’s payout ratio is 27.30%.

Insider Activity at Loblaw Companies

In other Loblaw Companies news, Senior Officer Robert Wayne Wiebe sold 16,583 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of C$150.00, for a total transaction of C$2,487,450.00. In other Loblaw Companies news, Senior Officer Robert Wayne Wiebe sold 16,583 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of C$150.00, for a total transaction of C$2,487,450.00. Also, Senior Officer Frank Gambioli sold 4,603 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$144.00, for a total value of C$662,832.00. Insiders have sold a total of 71,495 shares of company stock valued at $10,547,163 in the last ninety days. Company insiders own 52.69% of the company’s stock.

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.