Scotiabank Boosts Loblaw Companies (TSE:L) Price Target to C$148.27

Loblaw Companies (TSE:L) had its target price increased by Scotiabank from C$146.00 to C$148.27 in a report published on Monday, BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

L has been the subject of several other research reports. TD Securities boosted their price target on shares of Loblaw Companies from C$150.00 to C$160.00 and gave the stock a buy rating in a research note on Friday, February 23rd. Royal Bank of Canada lifted their price objective on shares of Loblaw Companies from C$170.00 to C$172.00 and gave the stock an outperform rating in a research report on Wednesday, January 24th. National Bankshares lifted their price objective on shares of Loblaw Companies from C$153.00 to C$156.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Desjardins lifted their price objective on shares of Loblaw Companies from C$133.00 to C$148.00 and gave the stock a buy rating in a research report on Friday, February 23rd. Finally, BMO Capital Markets lifted their price objective on shares of Loblaw Companies from C$130.00 to C$145.00 in a research report on Friday, February 23rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of C$154.04.

Loblaw Companies Trading Up 1.3 %

L opened at C$152.27 on Monday. The company has a debt-to-equity ratio of 156.41, a current ratio of 1.25 and a quick ratio of 0.68. The company’s 50 day simple moving average is C$147.62 and its two-hundred day simple moving average is C$132.30. Loblaw Companies has a 1-year low of C$110.52 and a 1-year high of C$154.70. The firm has a market capitalization of C$47.09 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 2.53 and a beta of 0.12.

Loblaw Companies (TSE:L) last released its earnings results on Thursday, February 22nd. The company reported C$2.00 earnings per share for the quarter, topping 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 analyst estimates of C$14.58 billion. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%. Analysts expect that Loblaw Companies will post 8.4881297 EPS for the current fiscal year.

Loblaw Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, April 1st were given a $0.446 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.78 dividend on an annualized basis and a yield of 1.17%. Loblaw Companies’s dividend payout ratio (DPR) is presently 27.30%.

Insider Activity at Loblaw Companies

In other Loblaw Companies news, Senior Officer Frank Gambioli sold 4,603 shares of Loblaw Companies stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$144.00, for a total value of C$662,832.00. In other news, Senior Officer Jeffrey Francis Leger sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of C$147.50, for a total transaction of C$1,475,000.00. Also, 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. Insiders sold a total of 71,495 shares of company stock valued at $10,547,163 over the last ninety days. Insiders own 52.69% of the company’s stock.

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.