FY2024 EPS Forecast for Loblaw Companies Lifted by Analyst

Loblaw Companies Limited (TSE:L) – Research analysts at National Bank Financial lifted their FY2024 earnings estimates for Loblaw Companies in a note issued to investors on Wednesday, November 13th. National Bank Financial analyst V. Shreedhar now expects that the company will post earnings per share of $8.56 for the year, up from their previous estimate of $8.52. The consensus estimate for Loblaw Companies’ current full-year earnings is $9.12 per share. National Bank Financial also issued estimates for Loblaw Companies’ Q4 2024 earnings at $2.18 EPS, Q1 2025 earnings at $1.85 EPS, Q2 2025 earnings at $2.41 EPS and FY2025 earnings at $9.32 EPS.

Several other equities research analysts also recently weighed in on the stock. TD Securities reduced their target price on shares of Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating on the stock in a research note on Thursday. Royal Bank of Canada lifted their target price on Loblaw Companies from C$183.00 to C$205.00 in a research report on Tuesday. BMO Capital Markets boosted their target price on shares of Loblaw Companies from C$160.00 to C$180.00 in a research note on Friday, July 26th. CIBC upped their target price on shares of Loblaw Companies from C$189.00 to C$206.00 in a research note on Thursday. Finally, National Bankshares upped their target price on Loblaw Companies from C$188.00 to C$195.00 in a report on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$191.29.

Loblaw Companies Stock Performance

Shares of TSE:L opened at C$181.49 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.36 and a debt-to-equity ratio of 163.32. Loblaw Companies has a 52 week low of C$116.81 and a 52 week high of C$188.77. The firm has a fifty day simple moving average of C$177.55 and a two-hundred day simple moving average of C$167.91. The stock has a market capitalization of C$55.43 billion, a P/E ratio of 27.26, a PEG ratio of 3.23 and a beta of 0.17.

Loblaw Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Sunday, December 15th will be issued a $0.513 dividend. This represents a $2.05 annualized dividend and a dividend yield of 1.13%. Loblaw Companies’s payout ratio is currently 31.06%.

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.