FY2024 EPS Estimates for Loblaw Companies Limited Lowered by National Bank Financial (TSE:L)

Loblaw Companies Limited (TSE:L) – Equities research analysts at National Bank Financial reduced their FY2024 earnings per share (EPS) estimates for Loblaw Companies in a report issued on Tuesday, June 25th. National Bank Financial analyst V. Shreedhar now forecasts that the company will post earnings of $8.45 per share for the year, down from their prior forecast of $8.46. The consensus estimate for Loblaw Companies’ current full-year earnings is $8.39 per share. National Bank Financial also issued estimates for Loblaw Companies’ FY2025 earnings at $9.23 EPS.

Several other equities research analysts have also recently issued reports on L. CIBC lifted their price objective on Loblaw Companies from C$159.00 to C$171.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. National Bankshares lifted their price target on Loblaw Companies from C$156.00 to C$159.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. TD Securities increased their price objective on Loblaw Companies from C$168.00 to C$172.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Scotiabank raised their price objective on Loblaw Companies from C$148.27 to C$161.00 and gave the company a “sector perform” rating in a report on Thursday, May 2nd. Finally, Desjardins upped their target price on shares of Loblaw Companies from C$148.00 to C$157.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$162.43.

Loblaw Companies Stock Down 0.3 %

Shares of TSE L opened at C$158.70 on Friday. Loblaw Companies has a 52-week low of C$110.52 and a 52-week high of C$164.94. The company has a quick ratio of 0.68, a current ratio of 1.25 and a debt-to-equity ratio of 156.41. The company’s 50-day simple moving average is C$156.11 and its 200-day simple moving average is C$144.85. The firm has a market cap of C$48.79 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 2.53 and a beta of 0.12.

Loblaw Companies (TSE:L) last issued its quarterly earnings results on Wednesday, May 1st. The company reported C$1.72 EPS for the quarter, topping the consensus estimate of C$1.70 by C$0.02. The company had revenue of C$13.58 billion during the quarter, compared to analyst estimates of C$13.29 billion. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%.

Loblaw Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, July 1st will be given a dividend of $0.513 per share. This is a boost from Loblaw Companies’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, June 14th. This represents a $2.05 annualized dividend and a dividend yield of 1.29%. Loblaw Companies’s payout ratio is presently 31.01%.

Insider Activity at Loblaw Companies

In other news, Senior Officer Melanie Singh sold 1,464 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of C$155.09, for a total transaction of C$227,046.05. In related news, Senior Officer Melanie Singh sold 1,464 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of C$155.09, for a total transaction of C$227,046.05. Also, Senior Officer Nicholas Henn sold 9,425 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of C$156.66, for a total transaction of C$1,476,488.46. Over the last quarter, insiders sold 83,929 shares of company stock valued at $13,160,644. 53.29% of the stock is owned by company insiders.

About Loblaw Companies

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.