Loblaw Companies Limited to Post Q1 2024 Earnings of $1.72 Per Share, Desjardins Forecasts (TSE:L)

Loblaw Companies Limited (TSE:L) – Investment analysts at Desjardins cut their Q1 2024 earnings per share (EPS) estimates for shares of Loblaw Companies in a research note issued on Sunday, April 28th. Desjardins analyst C. Li now anticipates that the company will post earnings of $1.72 per share for the quarter, down from their previous estimate of $1.75. Desjardins currently has a “Hold” rating and a $157.00 target price on the stock. The consensus estimate for Loblaw Companies’ current full-year earnings is $8.49 per share. Desjardins also issued estimates for Loblaw Companies’ Q2 2024 earnings at $2.14 EPS, Q3 2024 earnings at $2.47 EPS and FY2025 earnings at $9.27 EPS.

A number of other brokerages have also recently issued reports on L. Royal Bank of Canada upped their price objective on Loblaw Companies from C$170.00 to C$172.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Scotiabank upped their price objective on Loblaw Companies from C$146.00 to C$148.27 and gave the company a “sector perform” rating in a report on Monday, April 22nd. National Bankshares increased their target price on Loblaw Companies from C$153.00 to C$156.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. TD Securities upped their price objective on Loblaw Companies from C$150.00 to C$160.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, BMO Capital Markets upped their price objective on Loblaw Companies from C$130.00 to C$145.00 in a research report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$155.32.

Loblaw Companies Trading Up 1.2 %

TSE L opened at C$152.84 on Tuesday. The stock has a market capitalization of C$47.27 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 2.53 and a beta of 0.12. The stock’s 50 day moving average price is C$149.05 and its two-hundred day moving average price is C$133.58. The company has a debt-to-equity ratio of 156.41, a quick ratio of 0.68 and a current ratio of 1.25. Loblaw Companies has a 52 week low of C$110.52 and a 52 week high of C$154.70.

Loblaw Companies (TSE:L) last issued its quarterly earnings data on Thursday, February 22nd. The company reported C$2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.92 by C$0.08. Loblaw Companies had a return on equity of 18.96% and a net margin of 3.53%. The business had revenue of C$14.53 billion during the quarter, compared to analyst estimates of C$14.58 billion.

Loblaw Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, April 1st were paid a dividend of $0.446 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.78 annualized dividend and a yield of 1.17%. Loblaw Companies’s dividend payout ratio is currently 27.30%.

Insider Buying and Selling at Loblaw Companies

In related news, Senior Officer Frank Gambioli sold 4,603 shares of Loblaw Companies stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$144.00, for a total transaction of C$662,832.00. In related news, Senior Officer Frank Gambioli sold 4,603 shares of Loblaw Companies stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$144.00, for a total transaction of C$662,832.00. Also, Senior Officer Robert Wayne Wiebe sold 16,583 shares of Loblaw Companies stock in a transaction on Monday, March 11th. The stock was sold at an average price of C$150.00, for a total value of C$2,487,450.00. Over the last quarter, insiders sold 71,495 shares of company stock valued at $10,547,163. Company insiders own 52.69% of the company’s stock.

Loblaw Companies Company Profile

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.