CIBC Issues Positive Forecast for Loblaw Companies (TSE:L) Stock Price

Loblaw Companies (TSE:L) had its target price hoisted by CIBC from C$189.00 to C$206.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports.

Several other brokerages have also issued reports on L. TD Securities lowered their price target on shares of Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating on the stock in a research note on Thursday. BMO Capital Markets raised their price target on Loblaw Companies from C$160.00 to C$180.00 in a research note on Friday, July 26th. Desjardins upped their price objective on Loblaw Companies from C$172.00 to C$190.00 in a research note on Thursday. National Bankshares raised their target price on shares of Loblaw Companies from C$188.00 to C$195.00 in a research note on Thursday. Finally, Royal Bank of Canada lifted their price objective on shares of Loblaw Companies from C$183.00 to C$205.00 in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Loblaw Companies presently has an average rating of “Moderate Buy” and a consensus target price of C$191.29.

Loblaw Companies Stock Up 0.5 %

L stock opened at C$181.49 on Thursday. The company has a debt-to-equity ratio of 163.32, a current ratio of 1.36 and a quick ratio of 0.68. The stock has a market capitalization of C$55.43 billion, a P/E ratio of 27.50, a P/E/G ratio of 3.23 and a beta of 0.17. Loblaw Companies has a fifty-two week low of C$116.81 and a fifty-two week high of C$188.77. The business has a 50-day moving average of C$177.66 and a 200-day moving average of C$168.24.

Loblaw Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Sunday, December 15th will be issued a dividend of $0.513 per share. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.13%. Loblaw Companies’s dividend payout ratio is presently 31.06%.

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.