Desjardins Forecasts Strong Price Appreciation for Loblaw Companies (TSE:L) Stock

Loblaw Companies (TSE:L) had its price objective lifted by Desjardins from C$172.00 to C$190.00 in a report issued on Thursday morning,BayStreet.CA reports. Desjardins also issued estimates for Loblaw Companies’ Q4 2024 earnings at $2.21 EPS, FY2024 earnings at $8.57 EPS and FY2025 earnings at $9.38 EPS.

L has been the subject of a number of other reports. TD Securities decreased their price target on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank of Canada raised their price objective on Loblaw Companies from C$183.00 to C$205.00 in a research note on Tuesday. BMO Capital Markets raised their price objective on Loblaw Companies from C$160.00 to C$180.00 in a research note on Friday, July 26th. CIBC raised their target price on Loblaw Companies from C$171.00 to C$189.00 in a research report on Friday, July 26th. Finally, National Bankshares raised their target price on Loblaw Companies from C$188.00 to C$195.00 in a research report on Thursday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$191.29.

Loblaw Companies Stock Performance

L traded up C$0.37 during trading hours on Thursday, hitting C$181.00. The company’s stock had a trading volume of 114,403 shares, compared to its average volume of 354,913. Loblaw Companies has a fifty-two week low of C$116.81 and a fifty-two week high of C$188.77. The company has a current ratio of 1.36, a quick ratio of 0.68 and a debt-to-equity ratio of 163.32. The firm has a market capitalization of C$55.28 billion, a PE ratio of 27.26, a PEG ratio of 3.23 and a beta of 0.17. The company has a 50-day simple moving average of C$177.55 and a 200 day simple moving average of C$167.91.

Loblaw Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Sunday, December 15th will be paid a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a yield of 1.13%. Loblaw Companies’s dividend payout ratio is 31.06%.

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.