Desjardins Boosts Earnings Estimates for Loblaw Companies

Loblaw Companies Limited (TSE:L) – Investment analysts at Desjardins boosted their FY2024 earnings estimates for Loblaw Companies in a research note issued on Thursday, November 14th. Desjardins analyst C. Li now anticipates that the company will post earnings per share of $8.57 for the year, up from their prior estimate of $8.51. The consensus estimate for Loblaw Companies’ current full-year earnings is $9.12 per share. Desjardins also issued estimates for Loblaw Companies’ Q4 2024 earnings at $2.21 EPS and FY2025 earnings at $9.38 EPS.

Several other equities research analysts also recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Loblaw Companies from C$183.00 to C$205.00 in a research note on Tuesday. CIBC upped their target price on Loblaw Companies from C$189.00 to C$206.00 in a research report on Thursday. TD Securities dropped their price target on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a report on Thursday. National Bankshares upped their price objective on Loblaw Companies from C$188.00 to C$195.00 in a report on Thursday. Finally, BMO Capital Markets lifted their price objective on Loblaw Companies from C$160.00 to C$180.00 in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$191.29.

Loblaw Companies Price Performance

Shares of TSE L opened at C$181.49 on Friday. 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 business has a 50-day moving average of C$177.55 and a 200-day moving average of C$167.91. The stock has a market capitalization of C$55.43 billion, a price-to-earnings ratio of 27.26, a PEG 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.

Loblaw Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Sunday, December 15th will be paid a $0.513 dividend. This represents a $2.05 annualized dividend and a dividend yield of 1.13%. Loblaw Companies’s 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.