Q2 2024 EPS Estimates for Loblaw Companies Limited (TSE:L) Raised by Desjardins

Loblaw Companies Limited (TSE:L) – Analysts at Desjardins increased their Q2 2024 earnings estimates for shares of Loblaw Companies in a research note issued to investors on Wednesday, May 1st. Desjardins analyst C. Li now forecasts that the company will post earnings of $2.15 per share for the quarter, up from their prior estimate of $2.14. Desjardins currently has a “Hold” rating and a $157.00 price target on the stock. The consensus estimate for Loblaw Companies’ current full-year earnings is $8.51 per share. Desjardins also issued estimates for Loblaw Companies’ FY2025 earnings at $9.26 EPS.

Loblaw Companies (TSE:L) last released its quarterly earnings data on Thursday, February 22nd. The company reported C$2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.92 by C$0.08. The company had revenue of C$14.53 billion during the quarter, compared to analysts’ expectations of C$14.58 billion. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%.

Other equities research analysts have also recently issued research reports about the stock. CIBC increased their target price on shares of Loblaw Companies from C$159.00 to C$171.00 and gave the company an “outperform” rating in a research report on Thursday. National Bankshares raised their price objective on Loblaw Companies from C$156.00 to C$159.00 and gave the stock an “outperform” rating in a research report on Thursday. BMO Capital Markets upped their target price on Loblaw Companies from C$130.00 to C$145.00 in a research report on Friday, February 23rd. TD Securities increased their price target on Loblaw Companies from C$168.00 to C$172.00 and gave the company a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada boosted their price target on Loblaw Companies from C$170.00 to C$172.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$162.43.

Loblaw Companies Stock Down 0.4 %

Loblaw Companies stock opened at C$153.93 on Monday. The company has a quick ratio of 0.68, a current ratio of 1.25 and a debt-to-equity ratio of 156.41. The firm has a market cap of C$47.32 billion, a P/E ratio of 22.97, a P/E/G ratio of 2.53 and a beta of 0.12. The business has a fifty day moving average of C$149.47 and a two-hundred day moving average of C$134.28. Loblaw Companies has a twelve month low of C$110.52 and a twelve month high of C$155.22.

Insider Activity at Loblaw Companies

In related news, Director Willard Galen Garfield Weston sold 13,354 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$145.84, for a total transaction of C$1,947,558.04. In other Loblaw Companies news, Senior Officer Frank Gambioli sold 4,603 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$144.00, for a total transaction of C$662,832.00. Also, Director Willard Galen Garfield Weston sold 13,354 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$145.84, for a total transaction of C$1,947,558.04. Over the last quarter, insiders have sold 71,495 shares of company stock worth $10,547,163. 53.26% of the stock is owned by company insiders.

Loblaw Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Saturday, June 15th will be given a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, June 14th. This is a positive change from Loblaw Companies’s previous quarterly dividend of $0.45. Loblaw Companies’s dividend payout ratio (DPR) is currently 30.60%.

Loblaw Companies Company Profile

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.