Loblaw Companies Limited to Issue Quarterly Dividend of $0.16 (TSE:L)

Loblaw Companies Limited (TSE:L) announced a quarterly dividend on Tuesday, September 15th. Stockholders of record on Thursday, October 1st will be paid a dividend of 0.1552 per share on Thursday, October 1st. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 15th.

Loblaw Companies Stock Performance

Shares of TSE:L traded down C$0.18 during midday trading on Friday, hitting C$61.28. The company had a trading volume of 917,216 shares, compared to its average volume of 1,336,503. The company has a debt-to-equity ratio of 151.15, a current ratio of 1.06 and a quick ratio of 0.68. The company has a market cap of C$70.82 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 3.23 and a beta of 0.06. Loblaw Companies has a 12-month low of C$52.92 and a 12-month high of C$69.59. The company has a fifty day moving average of C$63.11 and a two-hundred day moving average of C$63.07.

Loblaw Companies (TSE:L) last released its earnings results on Thursday, July 30th. The company reported C$0.66 earnings per share for the quarter. Loblaw Companies had a return on equity of 25.25% and a net margin of 4.32%.The company had revenue of C$15.05 billion for the quarter. On average, equities research analysts expect that Loblaw Companies will post 9.1225541 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. TD set a C$75.00 price objective on Loblaw Companies and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets increased their target price on shares of Loblaw Companies from C$70.00 to C$73.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Scotia lifted their price target on shares of Loblaw Companies from C$64.00 to C$67.00 and gave the company a “sector perform” rating in a report on Friday, July 31st. TD Securities raised shares of Loblaw Companies to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, Desjardins upped their price target on shares of Loblaw Companies from C$70.00 to C$72.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Loblaw Companies has an average rating of “Moderate Buy” and an average price target of C$71.44.

Loblaw Companies Company Profile

Loblaw is Canada’s food and pharmacy leader, and the nation’s largest retailer. Loblaw provides Canadians with grocery, pharmacy, health and beauty, apparel, general merchandise, financial services and wireless mobile products and services. With more than 2,800 corporate franchised and Associate-owned locations, Loblaw, its franchisees and Associate-owners employ more than 220,000 full- and part-time employees, making it one of Canada’s largest private sector employers. Loblaw’s purpose – Live Life Well® – puts first the needs and well-being of Canadians who make one billion transactions annually in the company’s stores.