Empire (TSE:EMP.A) PT Lowered to C$36.00 at Scotiabank

Empire (TSE:EMP.A) had its price target dropped by research analysts at Scotiabank from C$37.00 to C$36.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 12.64% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Desjardins dropped their price target on shares of Empire from C$40.00 to C$39.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. BMO Capital Markets dropped their price target on shares of Empire from C$37.00 to C$35.00 in a research note on Friday, March 15th. CIBC dropped their price target on shares of Empire from C$42.00 to C$40.00 in a research note on Friday, March 1st. Royal Bank of Canada dropped their price target on shares of Empire from C$49.00 to C$43.00 and set a “sector perform” rating on the stock in a research note on Friday, March 15th. Finally, National Bankshares lowered their target price on shares of Empire from C$41.00 to C$40.00 in a research note on Friday, March 15th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$38.43.

Empire Stock Performance

Shares of EMP.A stock opened at C$31.96 on Monday. The stock has a market capitalization of C$4.67 billion, a P/E ratio of 10.58, a PEG ratio of 16.20 and a beta of 0.47. The company has a current ratio of 0.80, a quick ratio of 0.29 and a debt-to-equity ratio of 133.75. The firm’s 50 day moving average is C$33.29 and its 200 day moving average is C$35.42. Empire has a 12 month low of C$31.45 and a 12 month high of C$40.69.

About Empire

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.