Desjardins Forecasts Higher Earnings for Loblaw Companies

Loblaw Companies Limited (TSE:L) – Equities research analysts at Desjardins raised their FY2024 earnings per share (EPS) estimates for Loblaw Companies in a report issued on Thursday, November 14th. Desjardins analyst C. Li now forecasts that the company will post earnings per share of $8.57 for the year, up from their previous forecast of $8.51. The consensus estimate for Loblaw Companies’ current full-year earnings is $9.12 per share. Desjardins also issued estimates for Loblaw Companies’ Q4 2024 earnings at $2.21 EPS and FY2025 earnings at $9.38 EPS.

L has been the topic of several other research reports. TD Securities dropped their target price on shares of Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating on the stock in a research note on Thursday. Royal Bank of Canada increased their target price on Loblaw Companies from C$183.00 to C$205.00 in a research note on Tuesday, November 12th. CIBC lifted their target price on Loblaw Companies from C$189.00 to C$206.00 in a report on Thursday. BMO Capital Markets increased their price objective on Loblaw Companies from C$160.00 to C$180.00 in a research report on Friday, July 26th. Finally, National Bankshares boosted their target price on Loblaw Companies from C$188.00 to C$195.00 in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$191.29.

Loblaw Companies Stock Performance

Shares of L stock opened at C$181.49 on Friday. The company has a market capitalization of C$55.43 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. The company has a debt-to-equity ratio of 163.32, a quick ratio of 0.68 and a current ratio of 1.36. Loblaw Companies has a one year low of C$116.81 and a one year high of C$188.77. The company’s 50-day moving average is C$177.66 and its 200 day moving average is C$168.01.

Loblaw Companies Announces Dividend

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

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.