George Weston (TSE:WN) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

George Weston Limited (TSE:WN)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$98.24 and traded as high as C$101.22. George Weston shares last traded at C$100.98, with a volume of 184,549 shares.

Analysts Set New Price Targets

A number of research firms recently commented on WN. Scotia dropped their price objective on George Weston from C$106.00 to C$102.00 and set a “sector perform” rating for the company in a report on Wednesday, May 13th. Canadian Imperial Bank of Commerce decreased their target price on George Weston from C$127.00 to C$117.00 in a research report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, George Weston has an average rating of “Moderate Buy” and a consensus price target of C$108.86.

George Weston Trading Up 1.6%

The company has a fifty day simple moving average of C$99.50 and a two-hundred day simple moving average of C$98.24. The company has a quick ratio of 0.73, a current ratio of 1.11 and a debt-to-equity ratio of 411.08. The stock has a market capitalization of C$38.07 billion, a P/E ratio of 35.31, a price-to-earnings-growth ratio of 5.03 and a beta of 0.31.

George Weston (TSE:WN) last announced its quarterly earnings results on Tuesday, May 12th. The company reported C$0.91 earnings per share (EPS) for the quarter. George Weston had a return on equity of 21.74% and a net margin of 1.80%.The company had revenue of C$14.64 billion during the quarter. On average, sell-side analysts expect that George Weston Limited will post 13.0245758 earnings per share for the current year.

About George Weston

George Weston is a holding company that operates through two subsidiaries encompassing retail and real estate. The first is Loblaw, the largest grocer in Canada, in which it has a 53% controlling stake. The second is Choice Properties, an open-ended real estate investment trust, where George Weston’s ownership sits close to 62%. The company sold Weston Foods, a North American bakery, in early 2022, which the firm had previously wholly owned. While the two remaining entities are separate, they operate under a contractual, as well as tacit, framework of strategic business partnerships.