Analysts Offer Predictions for Loblaw Companies Limited’s FY2024 Earnings (TSE:L)

Loblaw Companies Limited (TSE:L) – Investment analysts at National Bank Financial lowered their FY2024 earnings per share estimates for shares of Loblaw Companies in a note issued to investors on Tuesday, June 25th. National Bank Financial analyst V. Shreedhar now forecasts that the company will earn $8.45 per share for the year, down from their previous forecast of $8.46. The consensus estimate for Loblaw Companies’ current full-year earnings is $8.39 per share. National Bank Financial also issued estimates for Loblaw Companies’ FY2025 earnings at $9.23 EPS.

Loblaw Companies (TSE:L) last announced its quarterly earnings data on Wednesday, May 1st. The company reported C$1.72 EPS for the quarter, beating the consensus estimate of C$1.70 by C$0.02. The company had revenue of C$13.58 billion for the quarter, compared to the consensus estimate 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 subject of several other reports. Scotiabank upped their target price on Loblaw Companies from C$148.27 to C$161.00 and gave the stock a “sector perform” rating in a report on Thursday, May 2nd. CIBC upped their price objective on Loblaw Companies from C$159.00 to C$171.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. National Bankshares upped their price objective on 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. Desjardins upped their price objective on Loblaw Companies from C$148.00 to C$157.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Finally, TD Securities upped their price objective on Loblaw Companies from C$168.00 to C$172.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Two 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.com, Loblaw Companies presently has a consensus rating of “Moderate Buy” and an average price target of C$162.43.

Loblaw Companies Stock Performance

Shares of Loblaw Companies stock opened at C$158.70 on Friday. Loblaw Companies has a 52 week low of C$110.52 and a 52 week high of C$164.94. The company has a market capitalization of C$48.79 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 2.53 and a beta of 0.12. The stock’s fifty day moving average is C$156.11 and its two-hundred day moving average is C$144.72. The company has a quick ratio of 0.68, a current ratio of 1.25 and a debt-to-equity ratio of 156.41.

Loblaw Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, July 1st will be issued a $0.513 dividend. The ex-dividend date is Friday, June 14th. This is a positive change from Loblaw Companies’s previous quarterly dividend of $0.45. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.29%. Loblaw Companies’s dividend payout ratio is currently 31.01%.

Insider Activity

In other news, Senior Officer Jeffrey Francis Leger sold 7,100 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of C$156.00, for a total value of C$1,107,600.00. In other news, Senior Officer Jeffrey Francis Leger sold 7,100 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of C$156.00, for a total value of C$1,107,600.00. Also, Senior Officer Kieran Barry Columb sold 32,500 shares of the 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. Over the last three months, insiders have sold 83,929 shares of company stock valued at $13,160,644. Company insiders own 53.29% of the company’s stock.

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.