Empire (TSE:EMP.A) Given New C$36.00 Price Target at Scotiabank

Empire (TSE:EMP.A) had its price target cut by Scotiabank from C$37.00 to C$36.00 in a research report report published on Monday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued reports about the company. Royal Bank of Canada dropped their target price on Empire from C$49.00 to C$43.00 and set a sector perform rating for the company in a research note on Friday, March 15th. Desjardins dropped their target price on Empire from C$40.00 to C$39.00 and set a buy rating for the company in a research note on Wednesday, March 6th. TD Securities dropped their target price on Empire from C$37.00 to C$36.00 and set a hold rating for the company in a research note on Friday, March 15th. BMO Capital Markets dropped their target price on Empire from C$37.00 to C$35.00 in a research note on Friday, March 15th. Finally, National Bankshares dropped their target price on Empire from C$41.00 to C$40.00 in a research note on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of C$38.43.

Empire Stock Up 0.9 %

Shares of TSE:EMP.A opened at C$31.99 on Monday. The company has a quick ratio of 0.29, a current ratio of 0.80 and a debt-to-equity ratio of 133.75. Empire has a 52-week low of C$31.45 and a 52-week high of C$40.69. The stock’s fifty day simple moving average is C$33.32 and its 200-day simple moving average is C$35.46. The company has a market capitalization of C$4.67 billion, a P/E ratio of 10.59, a P/E/G ratio of 16.20 and a beta of 0.47.

Empire Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 30th will be issued a $0.1825 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Friday, April 12th. Empire’s dividend payout ratio is currently 24.17%.

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.