Empire (TSE:EMP.A – Free Report) had its price target reduced by Scotiabank from C$37.00 to C$36.00 in a research report released on Monday, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.
A number of other brokerages have also recently weighed in on EMP.A. Desjardins decreased their price objective on Empire from C$40.00 to C$39.00 and set a buy rating on the stock in a report on Wednesday, March 6th. CIBC cut their price objective on shares of Empire from C$42.00 to C$40.00 in a research note on Friday, March 1st. National Bankshares decreased their price target on Empire from C$41.00 to C$40.00 in a research note on Friday, March 15th. Royal Bank of Canada dropped their price objective on Empire from C$49.00 to C$43.00 and set a sector perform rating for the company in a research note on Friday, March 15th. Finally, BMO Capital Markets decreased their target price on shares of Empire from C$37.00 to C$35.00 in a research note on Friday, March 15th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of C$38.43.
Read Our Latest Report on Empire
Empire Stock Up 0.4 %
Empire Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 30th will be paid a $0.1825 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, April 12th. Empire’s payout ratio is presently 24.17%.
About Empire
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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