Loblaw Companies Ltd (TSE:L) – Stock analysts at Desjardins cut their FY2018 EPS estimates for Loblaw Companies in a research note issued to investors on Thursday. Desjardins analyst K. Howlett now forecasts that the company will post earnings of $4.45 per share for the year, down from their prior forecast of $4.97. Desjardins has a “Buy” rating and a $81.00 price objective on the stock.
Loblaw Companies (TSE:L) last posted its earnings results on Wednesday, July 26th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.01. The firm had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $10.96 billion. Loblaw Companies had a return on equity of 7.82% and a net margin of 2.23%.
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L has been the subject of a number of other research reports. BMO Capital Markets lifted their target price on shares of Loblaw Companies from C$71.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Thursday, May 4th. TD Securities lifted their target price on shares of Loblaw Companies from C$85.00 to C$90.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. Scotiabank reaffirmed a “sector perform” rating and issued a C$77.00 target price on shares of Loblaw Companies in a research report on Thursday, April 20th. National Bank Financial boosted their price objective on shares of Loblaw Companies from C$78.00 to C$81.00 in a research report on Thursday, May 4th. Finally, Eight Capital boosted their price objective on shares of Loblaw Companies from C$78.00 to C$82.00 in a research report on Thursday, May 4th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Loblaw Companies has an average rating of “Buy” and an average price target of C$81.00.
Loblaw Companies (TSE:L) traded down 0.35% during midday trading on Monday, hitting $67.66. The company’s stock had a trading volume of 469,013 shares. Loblaw Companies has a 12 month low of $62.33 and a 12 month high of $78.87. The company’s 50 day moving average price is $71.86 and its 200 day moving average price is $72.24. The firm has a market cap of $26.68 billion and a P/E ratio of 22.60.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Thursday, September 14th.
Loblaw Companies Company Profile
Loblaw Companies Limited is a Canada-based holding company. The Company operates through three segments: Retail, Financial Services and Choice Properties. The Company’s Retail segment consists of corporate and franchise-owned retail food and Associate-owned drug stores, and includes in-store pharmacies and other health and beauty products, gas bars, apparel and other general merchandise.
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