Q2 2024 EPS Estimates for Loblaw Companies Limited (TSE:L) Decreased by National Bank Financial

Loblaw Companies Limited (TSE:L) – Stock analysts at National Bank Financial lowered their Q2 2024 earnings per share estimates for shares of Loblaw Companies in a report issued on Tuesday, June 25th. National Bank Financial analyst V. Shreedhar now expects that the company will earn $2.14 per share for the quarter, down from their previous forecast 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 posted its earnings results on Wednesday, May 1st. The company reported C$1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.70 by C$0.02. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%. The business had revenue of C$13.58 billion for the quarter, compared to analyst estimates of C$13.29 billion.

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

Loblaw Companies Trading Up 0.6 %

Shares of Loblaw Companies stock opened at C$158.01 on Thursday. The firm has a market capitalization of C$48.57 billion, a PE ratio of 23.90, a P/E/G ratio of 2.53 and a beta of 0.12. Loblaw Companies has a twelve month low of C$110.52 and a twelve month high of C$164.94. The firm’s 50-day moving average price is C$155.51 and its 200 day moving average price is C$144.29. The company has a current ratio of 1.25, a quick ratio of 0.68 and a debt-to-equity ratio of 156.41.

Insider Buying and Selling

In related news, Senior Officer Kieran Barry Columb sold 32,500 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of C$156.01, for a total transaction of C$5,070,380.25. In other Loblaw Companies news, Senior Officer Kieran Barry Columb sold 32,500 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of C$156.01, for a total value of C$5,070,380.25. Also, Senior Officer Frank Gambioli sold 14,840 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of C$157.00, for a total transaction of C$2,329,880.00. Over the last 90 days, insiders have sold 83,929 shares of company stock valued at $13,160,644. Corporate insiders own 53.29% of the company’s stock.

Loblaw Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, July 1st will be issued a dividend of $0.513 per share. The ex-dividend date is Friday, June 14th. This represents a $2.05 dividend on an annualized basis and a yield of 1.30%. This is an increase from Loblaw Companies’s previous quarterly dividend of $0.45. Loblaw Companies’s payout ratio is currently 31.01%.

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.