FY2024 EPS Forecast for Loblaw Companies Lowered by Analyst

Loblaw Companies Limited (TSE:L) – Equities researchers at National Bank Financial lowered their FY2024 EPS estimates for shares of Loblaw Companies in a report issued on Sunday, January 26th. National Bank Financial analyst V. Shreedhar now expects that the company will earn $8.55 per share for the year, down from their prior estimate of $8.56. The consensus estimate for Loblaw Companies’ current full-year earnings is $9.12 per share. National Bank Financial also issued estimates for Loblaw Companies’ FY2025 earnings at $9.31 EPS.

A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Loblaw Companies from C$205.00 to C$217.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. TD Securities reduced their price target on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a report on Thursday, November 14th. CIBC raised their price objective on Loblaw Companies from C$189.00 to C$206.00 in a report on Thursday, November 14th. Desjardins boosted their price objective on Loblaw Companies from C$172.00 to C$190.00 in a research report on Thursday, November 14th. Finally, Scotiabank lowered Loblaw Companies from an “outperform” rating to a “sector perform” rating and set a C$200.00 target price on the stock. in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$201.88.

Loblaw Companies Stock Up 0.2 %

L stock opened at C$184.93 on Wednesday. The company has a debt-to-equity ratio of 163.32, a current ratio of 1.36 and a quick ratio of 0.68. The firm’s fifty day simple moving average is C$186.47 and its 200-day simple moving average is C$178.56. Loblaw Companies has a 12 month low of C$132.55 and a 12 month high of C$196.49. The company has a market capitalization of C$56.48 billion, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17.

Insiders Place Their Bets

In other Loblaw Companies news, Director Christie James Beckett Clark sold 2,105 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of C$189.69, for a total transaction of C$399,297.45. Insiders own 53.77% of the company’s stock.

Loblaw Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 30th were issued a dividend of $0.513 per share. This represents a $2.05 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Friday, December 13th. Loblaw Companies’s dividend payout ratio (DPR) is 31.06%.

Loblaw Companies Company Profile

Loblaw is one of Canada’s largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart.