Q3 EPS Forecast for Loblaw Companies Boosted by Analyst

Loblaw Companies Limited (TSE:L) – National Bank Financial lifted their Q3 2024 earnings per share (EPS) estimates for shares of Loblaw Companies in a research note issued to investors on Wednesday, October 16th. National Bank Financial analyst V. Shreedhar now forecasts that the company will post earnings per share of $2.44 for the quarter, up from their previous forecast of $2.41. The consensus estimate for Loblaw Companies’ current full-year earnings is $9.12 per share. National Bank Financial also issued estimates for Loblaw Companies’ FY2024 earnings at $8.52 EPS, Q3 2025 earnings at $2.66 EPS, FY2025 earnings at $9.31 EPS and FY2026 earnings at $10.11 EPS.

Loblaw Companies (TSE:L) last released its quarterly earnings results on Thursday, July 25th. The company reported C$2.15 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.14 by C$0.01. Loblaw Companies had a return on equity of 19.22% and a net margin of 3.46%. The business had revenue of C$13.95 billion during the quarter, compared to analyst estimates of C$14.07 billion.

L has been the subject of several other reports. TD Securities lifted their price target on Loblaw Companies from C$172.00 to C$186.00 and gave the company a “buy” rating in a report on Monday, July 22nd. National Bankshares lifted their target price on shares of Loblaw Companies from C$175.00 to C$188.00 and gave the company an “outperform” rating in a research note on Thursday. Desjardins increased their price target on shares of Loblaw Companies from C$157.00 to C$172.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. BMO Capital Markets raised their price target on shares of Loblaw Companies from C$160.00 to C$180.00 in a report on Friday, July 26th. Finally, CIBC upped their price objective on shares of Loblaw Companies from C$171.00 to C$189.00 in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$178.29.

Loblaw Companies Stock Performance

L stock opened at C$177.23 on Friday. The firm has a 50 day simple moving average of C$174.90 and a 200 day simple moving average of C$163.86. Loblaw Companies has a 52 week low of C$110.52 and a 52 week high of C$182.19. The stock has a market cap of C$54.12 billion, a P/E ratio of 26.85, a P/E/G ratio of 3.23 and a beta of 0.17. The company has a debt-to-equity ratio of 163.32, a quick ratio of 0.68 and a current ratio of 1.36.

Insider Buying and Selling at Loblaw Companies

In related news, Senior Officer Nicholas Henn sold 164 shares of Loblaw Companies stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of C$165.15, for a total transaction of C$27,084.39. In other Loblaw Companies news, Senior Officer Nicholas Henn sold 164 shares of Loblaw Companies stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of C$165.15, for a total value of C$27,084.39. Also, Director Willard Galen Garfield Weston sold 296 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of C$165.15, for a total value of C$48,884.02. Company insiders own 53.77% of the company’s stock.

Loblaw Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, October 1st were paid a $0.513 dividend. This represents a $2.05 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Friday, September 13th. Loblaw Companies’s dividend payout ratio is 31.06%.

About Loblaw Companies

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.