Loblaw Companies Limited Expected to Post Q2 2024 Earnings of $2.14 Per Share (TSE:L)

Loblaw Companies Limited (TSE:L) – Equities researchers at National Bank Financial reduced their Q2 2024 earnings per share (EPS) estimates for shares of Loblaw Companies in a research note issued on Tuesday, June 25th. National Bank Financial analyst V. Shreedhar now forecasts that the company will post earnings per share of $2.14 for the quarter, down from their previous estimate of $2.15. The consensus estimate for Loblaw Companies’ current full-year earnings is $8.39 per share. National Bank Financial also issued estimates for Loblaw Companies’ Q2 2025 earnings at $2.33 EPS.

Loblaw Companies (TSE:L) last released its quarterly earnings results on Wednesday, May 1st. The company reported C$1.72 earnings per share for the quarter, beating the consensus estimate of C$1.70 by C$0.02. The business had revenue of C$13.58 billion during the quarter, compared to analysts’ expectations of C$13.29 billion. Loblaw Companies had a return on equity of 18.96% and a net margin of 3.53%.

L has been the topic of a number of other research reports. National Bankshares boosted their price objective on shares of Loblaw Companies from C$156.00 to C$159.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Scotiabank raised their price objective on shares of Loblaw Companies from C$148.27 to C$161.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 2nd. CIBC upped their target price on Loblaw Companies from C$159.00 to C$171.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. TD Securities increased their price target on Loblaw Companies from C$168.00 to C$172.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Desjardins boosted their price objective on Loblaw Companies from C$148.00 to C$157.00 and gave the company a “hold” rating in a report on Monday, April 29th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$162.43.

Loblaw Companies Stock Down 0.3 %

Shares of TSE L opened at C$158.70 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.68 and a debt-to-equity ratio of 156.41. Loblaw Companies has a 12-month low of C$110.52 and a 12-month high of C$164.94. The firm’s 50-day moving average price is C$156.11 and its 200-day moving average price is C$144.72. The stock has a market capitalization of C$48.79 billion, a price-to-earnings ratio of 24.01, a P/E/G ratio of 2.53 and a beta of 0.12.

Insider Activity at Loblaw Companies

In other news, Senior Officer Melanie Singh sold 1,464 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of C$155.09, for a total transaction of C$227,046.05. In other news, Senior Officer Melanie Singh sold 1,464 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of C$155.09, for a total transaction of C$227,046.05. Also, Senior Officer Kieran Barry Columb sold 13,100 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of C$157.12, for a total value of C$2,058,249.73. Insiders have sold 83,929 shares of company stock valued at $13,160,644 in the last ninety days. Corporate insiders own 53.29% of the company’s stock.

Loblaw Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, July 1st will be paid a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a yield of 1.29%. This is an increase from Loblaw Companies’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, June 14th. Loblaw Companies’s payout ratio is 31.01%.

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.