Empire Company Limited (TSE:EMP.A) Receives C$48.57 Average PT from Analysts

Shares of Empire Company Limited (TSE:EMP.A) have been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$48.57.

EMP.A has been the subject of a number of analyst reports. Royal Bank of Canada raised their target price on shares of Empire from C$42.00 to C$46.00 in a research note on Tuesday, November 12th. Desjardins raised their target price on shares of Empire from C$47.00 to C$50.00 in a research note on Sunday, December 15th. Scotiabank raised their target price on shares of Empire from C$44.00 to C$47.00 in a research note on Friday, December 13th. TD Securities raised their target price on shares of Empire from C$44.00 to C$48.00 and gave the company a “hold” rating in a research note on Friday, December 13th. Finally, BMO Capital Markets increased their price target on shares of Empire from C$44.00 to C$48.00 in a report on Friday, December 13th.

Insider Activity

In related news, Senior Officer Simon Gagne sold 8,458 shares of Empire stock in a transaction dated Monday, December 16th. The shares were sold at an average price of C$44.48, for a total transaction of C$376,211.84. Also, Senior Officer Matthew Reindel sold 4,587 shares of Empire stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of C$43.81, for a total transaction of C$200,956.47. Insiders have sold 96,154 shares of company stock worth $4,305,270 in the last three months. Company insiders own 2.18% of the company’s stock.

Empire Stock Up 0.2 %

Shares of TSE:EMP.A opened at C$42.50 on Friday. Empire has a 52-week low of C$31.45 and a 52-week high of C$46.77. The firm has a fifty day moving average of C$42.96 and a 200 day moving average of C$39.78. The firm has a market capitalization of C$5.97 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 16.20 and a beta of 0.48. The company has a debt-to-equity ratio of 135.51, a quick ratio of 0.29 and a current ratio of 0.79.

Empire Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 31st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.88%. Empire’s payout ratio is 29.20%.

About Empire

Empire Co Ltd key businesses are food retailing, investments, and other operations. The food retailing division operates through Empire’s subsidiary Sobeys and represents nearly all of the company’s income. This segment owns, affiliates, or franchises more than 1,500 stores in 10 provinces, under retail banners including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Lawton’s Drug Stores, and multiple retail fuel locations.