Equities Analysts Set Expectations for TSE:L FY2024 Earnings

Loblaw Companies Limited (TSE:L) – National Bank Financial raised their FY2024 EPS estimates for Loblaw Companies in a report released on Wednesday, November 13th. National Bank Financial analyst V. Shreedhar now forecasts that the company will post earnings of $8.56 per share for the year, up from their previous forecast of $8.52. The consensus estimate for Loblaw Companies’ current full-year earnings is $9.12 per share. National Bank Financial also issued estimates for Loblaw Companies’ Q4 2024 earnings at $2.18 EPS, Q1 2025 earnings at $1.85 EPS, Q2 2025 earnings at $2.41 EPS and FY2025 earnings at $9.32 EPS.

A number of other research analysts have also weighed in on L. BMO Capital Markets raised their target price on Loblaw Companies from C$160.00 to C$180.00 in a report on Friday, July 26th. Desjardins raised their price objective on Loblaw Companies from C$172.00 to C$190.00 in a research note on Thursday. TD Securities reduced their target price on shares of Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a research note on Thursday. National Bankshares raised their price target on shares of Loblaw Companies from C$188.00 to C$195.00 in a research report on Thursday. Finally, CIBC upped their price objective on shares of Loblaw Companies from C$189.00 to C$206.00 in a research report on Thursday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$191.29.

Loblaw Companies Price Performance

L stock opened at C$181.49 on Friday. The company has a debt-to-equity ratio of 163.32, a quick ratio of 0.68 and a current ratio of 1.36. The business has a 50-day simple moving average of C$177.66 and a two-hundred day simple moving average of C$168.01. The company has a market capitalization of C$55.43 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. Loblaw Companies has a 52-week low of C$116.81 and a 52-week high of C$188.77.

Loblaw Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Sunday, December 15th will be given a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a yield of 1.13%. Loblaw Companies’s payout ratio is currently 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.