Analysts’ Weekly Ratings Changes for Empire (EMP.A)

A number of firms have modified their ratings and price targets on shares of Empire (TSE: EMP.A) recently:

• 9/13/2024 – Empire had its price target raised by analysts at National Bankshares, Inc. from C$42.00 to C$46.00. They now have a “sector perform” rating on the stock.
• 9/13/2024 – Empire had its price target raised by analysts at Royal Bank of Canada from C$41.00 to C$42.00. They now have a “sector perform” rating on the stock.
• 9/13/2024 – Empire had its price target raised by analysts at CIBC from C$40.00 to C$47.00. They now have an “outperform” rating on the stock.
• 9/13/2024 – Empire had its price target raised by analysts at BMO Capital Markets from C$40.00 to C$43.00. They now have a “market perform” rating on the stock.
• 9/13/2024 – Empire had its price target raised by analysts at TD Securities from C$38.00 to C$44.00. They now have a “hold” rating on the stock.
• 9/13/2024 – Empire had its price target raised by analysts at Desjardins from C$42.00 to C$44.00. They now have a “buy” rating on the stock.
• 9/3/2024 – Empire had its price target raised by analysts at BMO Capital Markets from C$35.00 to C$40.00.
• 8/29/2024 – Empire had its price target raised by analysts at National Bankshares, Inc. from C$41.00 to C$42.00.

Empire Price Performance

Shares of EMP.A stock traded down C$0.30 during trading hours on Thursday, reaching C$38.93. The stock had a trading volume of 61,086 shares, compared to its average volume of 406,016. The stock’s fifty day simple moving average is C$37.20 and its 200 day simple moving average is C$34.55. The company has a current ratio of 0.80, a quick ratio of 0.29 and a debt-to-equity ratio of 134.59. The firm has a market capitalization of C$5.59 billion, a PE ratio of 13.33, a PEG ratio of 16.20 and a beta of 0.47. Empire Company Limited has a 12 month low of C$31.45 and a 12 month high of C$41.38.

Empire Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 31st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Monday, July 15th. This is an increase from Empire’s previous quarterly dividend of $0.18. Empire’s dividend payout ratio (DPR) is 27.40%.

Insider Transactions at Empire

In other news, Director William Linton sold 7,058 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of C$34.39, for a total value of C$242,690.74. Following the transaction, the director now owns 875 shares of the company’s stock, valued at approximately C$30,087.05. In other news, Director William Linton sold 7,058 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$34.39, for a total value of C$242,690.74. Following the completion of the transaction, the director now directly owns 875 shares in the company, valued at approximately C$30,087.05. Also, Senior Officer Vivek Sood sold 4,236 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of C$36.17, for a total value of C$153,228.83. Following the transaction, the insider now directly owns 381 shares in the company, valued at C$13,781.91. Over the last 90 days, insiders sold 18,819 shares of company stock valued at $684,341. 2.15% of the stock is owned by corporate insiders.

Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,500 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawtons Drugs; and approximately 350 retail fuel locations.