Analysts Set Loblaw Companies Ltd (L) Target Price at $73.63

Shares of Loblaw Companies Ltd (TSE:L) have been given an average rating of “Buy” by the eight analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$73.63.

Several equities research analysts recently issued reports on the company. National Bank Financial lifted their price objective on Loblaw Companies from C$69.00 to C$71.00 and gave the company a “sector perform” rating in a research note on Thursday, April 18th. CIBC lifted their price objective on Loblaw Companies from C$70.00 to C$76.00 in a research note on Friday, February 22nd. Desjardins lowered Loblaw Companies from a “buy” rating to a “hold” rating and lifted their price objective for the company from C$66.00 to C$70.00 in a research note on Friday, February 22nd. Raymond James lifted their price objective on Loblaw Companies from C$71.00 to C$76.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Finally, BMO Capital Markets lifted their price objective on Loblaw Companies from C$70.00 to C$83.00 in a research note on Friday, February 22nd.

Loblaw Companies stock opened at C$69.91 on Monday. Loblaw Companies has a one year low of C$50.22 and a one year high of C$70.53. The company has a debt-to-equity ratio of 145.02, a current ratio of 1.25 and a quick ratio of 0.64. The firm has a market capitalization of $25.72 billion and a PE ratio of 45.57.

Loblaw Companies (TSE:L) last posted its quarterly earnings results on Thursday, February 21st. The company reported C$1.03 EPS for the quarter, missing the Zacks’ consensus estimate of C$1.05 by C($0.02). The firm had revenue of C$11.22 billion during the quarter, compared to analysts’ expectations of C$11.28 billion. Analysts anticipate that Loblaw Companies will post 4.7493193912866 EPS for the current fiscal year.

In other Loblaw Companies news, Director Willard Galen Garfield Weston sold 28,222 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of C$65.15, for a total transaction of C$1,838,533.48. Following the sale, the director now owns 159,643 shares in the company, valued at C$10,400,007.09. Also, Senior Officer Jocyanne C. Bourdeau sold 2,564 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of C$65.15, for a total value of C$167,032.81. Insiders have sold 43,363 shares of company stock worth $2,829,360 in the last 90 days.

Loblaw Companies Company Profile

Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses 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 comprising in-store pharmacies, other health and beauty product stores, apparel stores, and other general merchandise stores, as well as supports the PC Optimum reward program.

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Analyst Recommendations for Loblaw Companies (TSE:L)

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