FY2024 EPS Estimates for Loblaw Companies Limited (TSE:L) Reduced by Analyst

Loblaw Companies Limited (TSE:L) – Equities research analysts at National Bank Financial dropped their FY2024 earnings estimates for Loblaw Companies in a research report issued on Tuesday, June 25th. National Bank Financial analyst V. Shreedhar now forecasts that the company will post earnings of $8.45 per share for the year, down from their prior estimate of $8.46. The consensus estimate for Loblaw Companies’ current full-year earnings is $8.39 per share. National Bank Financial also issued estimates for Loblaw Companies’ FY2025 earnings at $9.23 EPS.

Loblaw Companies (TSE:L) last issued its earnings results on Wednesday, May 1st. The company reported C$1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.70 by C$0.02. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%. The business had revenue of C$13.58 billion for the quarter, compared to analyst estimates of C$13.29 billion.

A number of other equities analysts also recently commented on L. National Bankshares lifted their price objective on shares of Loblaw Companies from C$156.00 to C$159.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. TD Securities raised their target price on shares of Loblaw Companies from C$168.00 to C$172.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Scotiabank increased their price target on Loblaw Companies from C$148.27 to C$161.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 2nd. CIBC increased their price objective on shares of Loblaw Companies from C$159.00 to C$171.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Finally, Desjardins raised their price target on shares of Loblaw Companies from C$148.00 to C$157.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Loblaw Companies presently has a consensus rating of “Moderate Buy” and an average price target of C$162.43.

Loblaw Companies Trading Up 0.7 %

TSE:L opened at C$159.11 on Friday. Loblaw Companies has a 52 week low of C$110.52 and a 52 week high of C$164.94. 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 company has a market cap of C$48.91 billion, a PE ratio of 24.07, a P/E/G ratio of 2.53 and a beta of 0.12. The business’s 50 day moving average is C$155.69 and its two-hundred day moving average is C$144.38.

Insider Buying and Selling

In other Loblaw Companies news, Senior Officer Kieran Barry Columb sold 13,100 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of C$157.12, for a total transaction of C$2,058,249.73. In related news, Senior Officer Melanie Singh sold 1,464 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of C$155.09, for a total transaction of C$227,046.05. Also, Senior Officer Kieran Barry Columb sold 13,100 shares of Loblaw Companies stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of C$157.12, for a total transaction of C$2,058,249.73. Insiders have sold a total of 83,929 shares of company stock valued at $13,160,644 over the last quarter. Corporate insiders own 53.29% of the company’s stock.

Loblaw Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, July 1st will be paid a dividend of $0.513 per share. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend 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 31.01%.

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.