Desjardins Issues Positive Forecast for Loblaw Companies (TSE:L) Stock Price

Loblaw Companies (TSE:L) had its price target lifted by Desjardins from C$172.00 to C$190.00 in a research report released on Thursday morning,BayStreet.CA reports. Desjardins also issued estimates for Loblaw Companies’ Q4 2024 earnings at $2.21 EPS, FY2024 earnings at $8.57 EPS and FY2025 earnings at $9.38 EPS.

Several other research firms have also recently issued reports on L. National Bankshares upped their price objective on Loblaw Companies from C$188.00 to C$195.00 in a research report on Thursday. TD Securities lowered 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. BMO Capital Markets boosted their price objective on shares of Loblaw Companies from C$160.00 to C$180.00 in a research report on Friday, July 26th. CIBC increased their target price on shares of Loblaw Companies from C$171.00 to C$189.00 in a research report on Friday, July 26th. Finally, Royal Bank of Canada boosted their price target on shares of Loblaw Companies from C$183.00 to C$205.00 in a research report on Tuesday, November 12th. Two research 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, the stock presently has an average rating of “Moderate Buy” and an average target price of C$191.29.

Loblaw Companies Stock Performance

Shares of L stock opened at C$181.49 on Thursday. The company has a market cap of C$55.43 billion, a P/E ratio of 27.50, a PEG ratio of 3.23 and a beta of 0.17. The firm has a fifty day moving average price of C$177.66 and a 200 day moving average price of C$168.24. The company has a current ratio of 1.36, a quick ratio of 0.68 and a debt-to-equity ratio of 163.32. Loblaw Companies has a 12 month low of C$116.81 and a 12 month high of C$188.77.

Loblaw Companies Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.13%. Loblaw Companies’s payout ratio is 31.06%.

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.