Brokerages Set Empire Company Limited (TSE:EMP.A) Price Target at C$45.44

Shares of Empire Company Limited (TSE:EMP.A) have earned an average recommendation of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is C$45.44.

Several brokerages recently issued reports on EMP.A. National Bank Financial boosted their target price on shares of Empire from C$44.00 to C$46.00 and gave the company an “outperform” rating in a research report on Wednesday, June 16th. National Bankshares boosted their target price on shares of Empire from C$44.00 to C$46.00 and gave the company an “outperform” rating in a research report on Wednesday, June 16th. Royal Bank of Canada restated a “sector perform” rating and set a C$45.00 target price on shares of Empire in a research report on Thursday, June 24th. CIBC boosted their target price on shares of Empire from C$45.00 to C$46.00 and gave the company an “outperform” rating in a research report on Thursday, June 24th. Finally, Desjardins boosted their target price on shares of Empire from C$44.00 to C$45.00 and gave the company a “buy” rating in a research report on Thursday, June 24th.

In other news, Senior Officer Vivek Sood sold 2,777 shares of the stock in a transaction on Thursday, July 15th. The shares were sold at an average price of C$39.59, for a total value of C$109,941.43. Following the sale, the insider now owns 12,723 shares of the company’s stock, valued at C$503,703.57.

Shares of EMP.A stock traded up C$0.12 during trading hours on Thursday, reaching C$39.89. The company had a trading volume of 304,357 shares, compared to its average volume of 526,459. The business has a fifty day moving average of C$40.57. Empire has a one year low of C$32.63 and a one year high of C$42.93. The firm has a market capitalization of C$10.67 billion and a price-to-earnings ratio of 15.35. The company has a current ratio of 0.92, a quick ratio of 0.46 and a debt-to-equity ratio of 158.59.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 30th. Stockholders of record on Friday, July 30th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, July 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.50%. This is an increase from Empire’s previous quarterly dividend of $0.13. Empire’s dividend payout ratio is currently 20.00%.

Empire Company Profile

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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Analyst Recommendations for Empire (TSE:EMP.A)

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