TSE:L FY2024 EPS Estimate Reduced by National Bank Financial

Loblaw Companies Limited (TSE:L) – Investment analysts at National Bank Financial dropped their FY2024 earnings per share (EPS) estimates for shares of Loblaw Companies in a report issued on Sunday, January 26th. National Bank Financial analyst V. Shreedhar now expects that the company will earn $8.55 per share for the year, down from their previous forecast of $8.56. The consensus estimate for Loblaw Companies’ current full-year earnings is $9.12 per share. National Bank Financial also issued estimates for Loblaw Companies’ FY2025 earnings at $9.31 EPS.

Several other brokerages also recently commented on L. Scotiabank downgraded Loblaw Companies from an “outperform” rating to a “sector perform” rating and set a C$200.00 price objective on the stock. in a research report on Wednesday, January 8th. National Bankshares upped their price target on Loblaw Companies from C$188.00 to C$195.00 in a research note on Thursday, November 14th. Desjardins boosted their target price on shares of Loblaw Companies from C$172.00 to C$190.00 in a report on Thursday, November 14th. UBS Group set a C$225.00 target price on shares of Loblaw Companies and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, CIBC increased their price target on shares of Loblaw Companies from C$189.00 to C$206.00 in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$201.88.

Loblaw Companies Stock Performance

Shares of L opened at C$182.75 on Wednesday. The business has a 50-day simple moving average of C$186.62 and a two-hundred day simple moving average of C$178.69. The company has a quick ratio of 0.68, a current ratio of 1.36 and a debt-to-equity ratio of 163.32. Loblaw Companies has a 52 week low of C$132.55 and a 52 week high of C$196.49. The stock has a market cap of C$55.81 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 3.23 and a beta of 0.17.

Insider Buying and Selling at Loblaw Companies

In other Loblaw Companies news, Director Christie James Beckett Clark sold 2,105 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of C$189.69, for a total value of C$399,297.45. 53.77% of the stock is owned by insiders.

Loblaw Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 30th were given a dividend of $0.513 per share. This represents a $2.05 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Friday, December 13th. Loblaw Companies’s payout ratio is currently 31.06%.

About Loblaw Companies

Loblaw is one of Canada’s largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart.