TD Reiterates “C$75.00” Price Target for Loblaw Companies (TSE:L)

by · The Markets Daily

TD set a C$75.00 target price on Loblaw Companies (TSE:L – Free Report) in a research report released on Thursday morning,BayStreet reports. The firm currently has a buy rating on the stock.

L has been the subject of a number of other reports. TD Securities raised Loblaw Companies to a “strong-buy” rating in a research note on Wednesday, July 29th. Scotia raised their target price on Loblaw Companies from C$64.00 to C$67.00 and gave the company a “sector perform” rating in a report on Friday, July 31st. BMO Capital Markets lifted their target price on Loblaw Companies from C$70.00 to C$73.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. National Bank Financial boosted their price target on shares of Loblaw Companies from C$67.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Desjardins increased their price target on shares of Loblaw Companies from C$70.00 to C$72.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Loblaw Companies presently has an average rating of “Moderate Buy” and an average target price of C$71.44.

Check Out Our Latest Stock Report on L

Loblaw Companies Stock Performance

TSE:L opened at C$61.28 on Thursday. Loblaw Companies has a fifty-two week low of C$52.92 and a fifty-two week high of C$69.59. The company has a debt-to-equity ratio of 151.15, a quick ratio of 0.68 and a current ratio of 1.06. The company has a 50 day moving average price of C$63.11 and a 200 day moving average price of C$63.07. The stock has a market capitalization of C$70.82 billion, a P/E ratio of 25.97, a PEG ratio of 3.23 and a beta of 0.06.

Loblaw Companies (TSE:L – Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported C$0.66 earnings per share (EPS) for the quarter. Loblaw Companies had a return on equity of 25.25% and a net margin of 4.32%.The company had revenue of C$15.05 billion for the quarter. Equities research analysts forecast that Loblaw Companies will post 9.1225541 EPS for the current year.

Loblaw Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, October 1st will be paid a $0.1552 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 15th. Loblaw Companies’s dividend payout ratio (DPR) is presently 24.51%.

Insiders Place Their Bets

In other Loblaw Companies news, insider Mark William Henry Wilson sold 24,496 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of C$62.68, for a total transaction of C$1,535,409.28. Also, insider Per Bank sold 203,623 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of C$62.01, for a total value of C$12,626,662.23. Over the last quarter, insiders sold 267,881 shares of company stock valued at $16,627,713. 53.77% of the stock is currently owned by company insiders.

Loblaw Companies Company Profile

(Get Free Report)

Loblaw is Canada’s food and pharmacy leader, and the nation’s largest retailer. Loblaw provides Canadians with grocery, pharmacy, health and beauty, apparel, general merchandise, financial services and wireless mobile products and services. With more than 2,800 corporate franchised and Associate-owned locations, Loblaw, its franchisees and Associate-owners employ more than 220,000 full- and part-time employees, making it one of Canada’s largest private sector employers. Loblaw’s purpose – Live Life Well® – puts first the needs and well-being of Canadians who make one billion transactions annually in the company’s stores.

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