Brokerages Set Empire Company Limited (TSE:EMP.A) Price Target at C$43.14

Empire Company Limited (TSE:EMP.A) has been given an average rating of “Hold” by the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$43.14.

A number of research firms have weighed in on EMP.A. TD Securities increased their price target on shares of Empire from C$38.00 to C$44.00 and gave the stock a “hold” rating in a research note on Friday, September 13th. BMO Capital Markets increased their target price on Empire from C$40.00 to C$43.00 and gave the stock a “market perform” rating in a research report on Friday, September 13th. Desjardins boosted their price target on Empire from C$42.00 to C$44.00 and gave the company a “buy” rating in a research report on Friday, September 13th. CIBC raised their price objective on Empire from C$40.00 to C$47.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Finally, National Bankshares lifted their price objective on Empire from C$42.00 to C$46.00 and gave the company a “sector perform” rating in a research note on Friday, September 13th.

Empire Price Performance

The business’s fifty day moving average is C$37.12 and its 200-day moving average is C$34.51. The company has a debt-to-equity ratio of 134.59, a quick ratio of 0.29 and a current ratio of 0.80. Empire has a 1-year low of C$31.45 and a 1-year high of C$41.38. The stock has a market cap of C$5.63 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 16.20 and a beta of 0.47.

Empire Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 31st were given a $0.20 dividend. This is an increase from Empire’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, July 15th. This represents a $0.80 annualized dividend and a dividend yield of ∞. Empire’s dividend payout ratio is presently 27.40%.

Insider Activity

In other news, Senior Officer Douglas Bigler Nathanson sold 4,525 shares of Empire stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of C$39.66, for a total transaction of C$179,461.50. In related news, Director William Linton sold 7,058 shares of the business’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 transaction, the director now owns 875 shares in the company, valued at C$30,087.05. Also, Senior Officer Douglas Bigler Nathanson sold 4,525 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of C$39.66, for a total value of C$179,461.50. Over the last quarter, insiders sold 18,819 shares of company stock worth $684,341. 2.15% of the stock is currently owned by corporate insiders.

Empire Company Profile

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.