TD Securities Increases Empire (TSE:EMP.A) Price Target to C$37.00

Empire (TSE:EMP.A) had its price objective raised by TD Securities from C$34.00 to C$37.00 in a research report released on Friday morning, BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

EMP.A has been the topic of a number of other reports. BMO Capital Markets increased their price objective on Empire from C$34.00 to C$36.00 in a report on Friday, June 28th. Royal Bank of Canada increased their price objective on Empire from C$32.00 to C$35.00 and gave the company a sector perform rating in a report on Friday, June 28th. National Bank Financial increased their price objective on Empire from C$34.00 to C$37.00 and gave the company an outperform rating in a report on Friday, June 28th. Raymond James reissued a market perform rating and issued a C$32.00 price objective on shares of Empire in a report on Friday, June 21st. Finally, CIBC lowered Empire from an outperform rating to a neutral rating and increased their price objective for the company from C$33.00 to C$34.00 in a report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of C$34.19.

Shares of EMP.A stock opened at C$36.69 on Friday. The stock’s 50-day simple moving average is C$34.61 and its 200-day simple moving average is C$31.43. The company has a debt-to-equity ratio of 49.50, a quick ratio of 0.38 and a current ratio of 0.98. The firm has a market capitalization of $6.37 billion and a PE ratio of 25.84. Empire has a fifty-two week low of C$22.38 and a fifty-two week high of C$36.69.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 31st were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.48 dividend on an annualized basis and a yield of 1.31%. This is an increase from Empire’s previous quarterly dividend of $0.11. Empire’s dividend payout ratio is currently 33.80%.

Empire Company Profile

Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,500 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawtons Drugs; and approximately 350 retail fuel locations.

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Analyst Recommendations for Empire (TSE:EMP.A)

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