Q3 2024 EPS Estimates for Loblaw Companies Limited (TSE:L) Raised by Analyst

Loblaw Companies Limited (TSE:L) – Stock analysts at Desjardins increased their Q3 2024 earnings per share estimates for shares of Loblaw Companies in a report released on Wednesday, May 1st. Desjardins analyst C. Li now anticipates that the company will earn $2.49 per share for the quarter, up from their previous forecast of $2.47. Desjardins has a “Hold” rating and a $157.00 price objective on the stock. The consensus estimate for Loblaw Companies’ current full-year earnings is $8.51 per share. Desjardins also issued estimates for Loblaw Companies’ Q4 2024 earnings at $2.14 EPS and FY2024 earnings at $8.50 EPS.

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

A number of other research analysts have also commented on L. BMO Capital Markets increased their price objective on Loblaw Companies from C$130.00 to C$145.00 in a report on Friday, February 23rd. TD Securities increased their price objective on Loblaw Companies from C$168.00 to C$172.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada increased their price objective on Loblaw Companies from C$170.00 to C$172.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Scotiabank raised their target price on Loblaw Companies from C$148.27 to C$161.00 and gave the company a “sector perform” rating in a report on Thursday. Finally, CIBC raised their target price on Loblaw Companies from C$159.00 to C$171.00 and gave the company an “outperform” rating in a report on Thursday. Two investment 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 company has an average rating of “Moderate Buy” and an average price target of C$162.43.

Loblaw Companies Stock Performance

Shares of TSE L opened at C$153.93 on Friday. The company has a debt-to-equity ratio of 156.41, a quick ratio of 0.68 and a current ratio of 1.25. The firm has a market cap of C$47.32 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 2.53 and a beta of 0.12. The business’s 50-day simple moving average is C$149.47 and its 200-day simple moving average is C$133.99. Loblaw Companies has a 52 week low of C$110.52 and a 52 week high of C$155.22.

Loblaw Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Saturday, June 15th will be given a $0.513 dividend. This is an increase from Loblaw Companies’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, June 14th. This represents a $2.05 annualized dividend and a yield of 1.33%. Loblaw Companies’s payout ratio is presently 30.60%.

Insider Buying and Selling at Loblaw Companies

In other news, Director Willard Galen Garfield Weston sold 13,354 shares of Loblaw Companies stock in a transaction on Monday, March 4th. The stock was sold at an average price of C$145.84, for a total value of C$1,947,558.04. In other news, Senior Officer Frank Gambioli sold 4,603 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$144.00, for a total value of C$662,832.00. Also, Director Willard Galen Garfield Weston sold 13,354 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of C$145.84, for a total value of C$1,947,558.04. In the last quarter, insiders sold 71,495 shares of company stock worth $10,547,163. 53.26% of the stock is currently owned by insiders.

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.