Q3 2024 EPS Estimates for Loblaw Companies Limited Raised by Desjardins (TSE:L)

Loblaw Companies Limited (TSE:L) – Stock analysts at Desjardins lifted their Q3 2024 earnings estimates for Loblaw Companies in a note issued to investors on Wednesday, May 1st. Desjardins analyst C. Li now expects that the company will post earnings of $2.49 per share for the quarter, up from their prior forecast of $2.47. Desjardins has a “Hold” rating and a $157.00 price objective on the stock. The consensus estimate for Loblaw Companies’ current full-year earnings is $8.49 per share. Desjardins also issued estimates for Loblaw Companies’ Q4 2024 earnings at $2.14 EPS and FY2024 earnings at $8.50 EPS.

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

L has been the topic of a number of other reports. Scotiabank boosted their price objective on shares of Loblaw Companies from C$148.27 to C$161.00 and gave the company a “sector perform” rating in a research report on Thursday. Royal Bank of Canada raised their target price on shares of Loblaw Companies from C$170.00 to C$172.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. TD Securities increased their price target on shares of Loblaw Companies from C$168.00 to C$172.00 and gave the company a “buy” rating in a report on Friday. CIBC increased their price target on shares of Loblaw Companies from C$159.00 to C$171.00 and gave the company an “outperform” rating in a report on Thursday. Finally, National Bankshares increased their price target on shares of Loblaw Companies from C$156.00 to C$159.00 and gave the company an “outperform” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$162.43.

Loblaw Companies Price Performance

L stock opened at C$153.93 on Friday. The company has a debt-to-equity ratio of 156.41, a quick ratio of 0.68 and a current ratio of 1.25. The firm has a market cap of C$47.60 billion, a P/E ratio of 23.61, a P/E/G ratio of 2.53 and a beta of 0.12. The firm’s fifty day moving average is C$149.29 and its 200 day moving average is C$133.72. Loblaw Companies has a 52 week low of C$110.52 and a 52 week high of C$155.22.

Insider Transactions at Loblaw Companies

In related news, Senior Officer Kieran Barry Columb sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of C$150.00, for a total transaction of C$1,500,000.00. In other Loblaw Companies news, Senior Officer Frank Gambioli sold 4,603 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$144.00, for a total transaction of C$662,832.00. Also, Senior Officer Kieran Barry Columb sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of C$150.00, for a total value of C$1,500,000.00. In the last three months, insiders sold 71,495 shares of company stock valued at $10,547,163. Corporate insiders own 52.69% of the company’s stock.

Loblaw Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Saturday, June 15th will be given a $0.513 dividend. This represents a $2.05 annualized dividend and a dividend yield of 1.33%. This is a positive change from Loblaw Companies’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, June 14th. Loblaw Companies’s payout ratio is presently 27.30%.

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.