Loblaw Companies (TSE:L) Share Price Crosses Above 200 Day Moving Average of $119.75

Shares of Loblaw Companies Limited (TSE:LGet Rating) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$119.75 and traded as high as C$122.58. Loblaw Companies shares last traded at C$119.36, with a volume of 665,350 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on L shares. Scotiabank raised their price objective on Loblaw Companies from C$126.50 to C$128.50 in a report on Monday, April 24th. BMO Capital Markets raised their price objective on Loblaw Companies from C$123.00 to C$130.00 in a report on Friday, February 24th. Royal Bank of Canada raised their price objective on Loblaw Companies from C$165.00 to C$168.00 and gave the company an “outperform” rating in a report on Friday, February 24th. CIBC raised their price objective on Loblaw Companies from C$145.00 to C$149.00 and gave the company an “outperform” rating in a report on Friday, February 24th. Finally, TD Securities raised their price objective on Loblaw Companies from C$135.00 to C$140.00 and gave the company a “buy” rating in a report on Friday, February 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$139.94.

Loblaw Companies Stock Performance

The company has a current ratio of 1.36, a quick ratio of 0.68 and a debt-to-equity ratio of 150.95. The firm has a fifty day moving average price of C$122.71 and a 200 day moving average price of C$119.75. The firm has a market cap of C$38.32 billion, a PE ratio of 21.05, a price-to-earnings-growth ratio of 10.36 and a beta of 0.06.

Loblaw Companies (TSE:LGet Rating) last posted its quarterly earnings results on Thursday, February 23rd. The company reported C$1.76 EPS for the quarter, topping the consensus estimate of C$1.71 by C$0.05. The business had revenue of C$14.01 billion for the quarter, compared to analyst estimates of C$13.72 billion. Loblaw Companies had a return on equity of 16.73% and a net margin of 3.32%. As a group, equities research analysts expect that Loblaw Companies Limited will post 7.5263158 earnings per share for the current fiscal year.

Loblaw Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Thursday, June 15th will be issued a $0.446 dividend. This is a positive change from Loblaw Companies’s previous quarterly dividend of $0.41. This represents a $1.78 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, June 14th. Loblaw Companies’s payout ratio is 31.39%.

Insider Activity at Loblaw Companies

In related news, Director Richard Dufresne sold 5,000 shares of the business’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of C$118.35, for a total value of C$591,725.00. In other Loblaw Companies news, Director Richard Dufresne sold 5,000 shares of Loblaw Companies stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of C$118.35, for a total value of C$591,725.00. Also, Director Willard Galen Garfield Weston sold 12,002 shares of Loblaw Companies stock in a transaction dated Monday, February 27th. The shares were sold at an average price of C$117.10, for a total value of C$1,405,449.80. 52.89% of the stock is owned by insiders.

Loblaw Companies Company Profile

(Get Rating)

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.

Further Reading

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