Q2 2024 EPS Estimates for Loblaw Companies Limited Lifted by Analyst (TSE:L)

Loblaw Companies Limited (TSE:L) – Research analysts at Desjardins upped their Q2 2024 earnings per share estimates for shares of Loblaw Companies in a research note issued to investors on Wednesday, May 1st. Desjardins analyst C. Li now forecasts that the company will post earnings of $2.15 per share for the quarter, up from their prior estimate of $2.14. Desjardins currently has a “Hold” rating and a $157.00 target price on the stock. The consensus estimate for Loblaw Companies’ current full-year earnings is $8.51 per share. Desjardins also issued estimates for Loblaw Companies’ FY2025 earnings at $9.26 EPS.

Loblaw Companies (TSE:L) last posted its earnings results on Thursday, February 22nd. The company reported C$2.00 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.92 by C$0.08. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%. The company had revenue of C$14.53 billion during the quarter, compared to analyst estimates of C$14.58 billion.

Other analysts have also issued research reports about the company. Royal Bank of Canada raised their price target on Loblaw Companies from C$170.00 to C$172.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Scotiabank lifted their target price on shares of Loblaw Companies from C$148.27 to C$161.00 and gave the company a “sector perform” rating in a research note on Thursday, May 2nd. National Bankshares increased their price target on shares of Loblaw Companies from C$156.00 to C$159.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. BMO Capital Markets lifted their price objective on Loblaw Companies from C$130.00 to C$145.00 in a research report on Friday, February 23rd. Finally, CIBC increased their target price on Loblaw Companies from C$159.00 to C$171.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Loblaw Companies has a consensus rating of “Moderate Buy” and a consensus price target of C$162.43.

Loblaw Companies Trading Down 0.6 %

TSE L opened at C$154.50 on Monday. The company has a debt-to-equity ratio of 156.41, a quick ratio of 0.68 and a current ratio of 1.25. Loblaw Companies has a fifty-two week low of C$110.52 and a fifty-two week high of C$156.52. The stock has a market cap of C$47.49 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 2.53 and a beta of 0.12. The stock has a 50 day simple moving average of C$149.83 and a two-hundred day simple moving average of C$134.89.

Loblaw Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Saturday, June 15th will be issued a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a dividend yield of 1.33%. This is a positive change from Loblaw Companies’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, June 14th. Loblaw Companies’s dividend payout ratio (DPR) is presently 30.60%.

Insider Transactions at Loblaw Companies

In other news, Senior Officer Frank Gambioli sold 4,603 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of C$144.00, for a total transaction of C$662,832.00. In related news, Senior Officer Kieran Barry Columb sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of C$150.00, for a total value of C$1,500,000.00. Also, Senior Officer Frank Gambioli sold 4,603 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$144.00, for a total value of C$662,832.00. Insiders have sold a total of 71,495 shares of company stock valued at $10,547,163 in the last ninety days. 53.26% of the stock is currently owned by corporate insiders.

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.