Empire (TSE:EMP.A) Given New C$44.00 Price Target at CIBC

Empire (TSE:EMP.A) had its price target lifted by CIBC from C$43.00 to C$44.00 in a report published on Friday, BayStreet.CA reports.

EMP.A has been the topic of a number of other reports. Scotiabank lifted their target price on Empire from C$42.50 to C$43.00 in a research report on Friday. BMO Capital Markets set a C$39.00 target price on Empire and gave the stock a market perform rating in a research report on Friday. National Bankshares raised their price target on shares of Empire from C$42.00 to C$44.00 in a research note on Friday. TD Securities raised their price target on shares of Empire from C$42.00 to C$43.00 and gave the stock a buy rating in a research note on Friday. Finally, Desjardins set a C$41.00 price target on shares of Empire and gave the stock a buy rating in a research note on Wednesday, September 6th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of C$42.43.

Empire Stock Up 1.5 %

EMP.A stock opened at C$37.23 on Friday. Empire has a twelve month low of C$33.09 and a twelve month high of C$38.36. The company has a market cap of C$5.66 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 16.20 and a beta of 0.45. The business’s 50-day simple moving average is C$35.68 and its 200 day simple moving average is C$35.64. The company has a quick ratio of 0.29, a current ratio of 0.80 and a debt-to-equity ratio of 129.59.

Empire Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, July 31st were paid a $0.1825 dividend. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 1.96%. This is a boost from Empire’s previous quarterly dividend of $0.17. Empire’s payout ratio is 24.66%.

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.