Empire Company Limited (TSE:EMP.A) Given Average Recommendation of “Hold” by Analysts

Empire Company Limited (TSE:EMP.A) has received an average recommendation of “Hold” from the seven ratings firms that are 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 12-month price objective among brokers that have covered the stock in the last year is C$43.14.

Several research firms have issued reports on EMP.A. Desjardins lifted their price objective on Empire from C$42.00 to C$44.00 and gave the stock a “buy” rating in a report on Friday, September 13th. TD Securities increased their price objective on shares of Empire from C$38.00 to C$44.00 and gave the company a “hold” rating in a research note on Friday, September 13th. Royal Bank of Canada boosted their target price on shares of Empire from C$41.00 to C$42.00 and gave the stock a “sector perform” rating in a research report on Friday, September 13th. National Bankshares increased their price target on shares of Empire from C$42.00 to C$46.00 and gave the stock a “sector perform” rating in a research report on Friday, September 13th. Finally, BMO Capital Markets boosted their price objective on Empire from C$40.00 to C$43.00 and gave the company a “market perform” rating in a report on Friday, September 13th.

Empire Stock Up 1.2 %

Shares of TSE EMP.A opened at C$39.31 on Friday. 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 has a 1 year low of C$31.45 and a 1 year high of C$41.38. The stock’s 50-day simple moving average is C$37.36 and its 200-day simple moving average is C$34.61. The firm has a market cap of C$5.52 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 16.20 and a beta of 0.47.

Empire Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 31st were issued a $0.20 dividend. The ex-dividend date was Monday, July 15th. This represents a $0.80 dividend on an annualized basis and a yield of 2.04%. This is a boost from Empire’s previous quarterly dividend of $0.18. Empire’s dividend payout ratio (DPR) is currently 29.20%.

Insider Activity

In related news, Senior Officer Douglas Bigler Nathanson sold 4,525 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of C$39.66, for a total value of C$179,461.50. In related news, Senior Officer Douglas Bigler Nathanson sold 4,525 shares of Empire stock in a transaction dated Friday, September 13th. The shares were sold at an average price of C$39.66, for a total value of C$179,461.50. Also, Senior Officer Vivek Sood sold 4,236 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of C$36.17, for a total transaction of C$153,228.83. Following the transaction, the insider now directly owns 381 shares of the company’s stock, valued at C$13,781.91. Over the last ninety days, insiders sold 11,761 shares of company stock valued at $441,650. 2.17% of the stock is currently owned by insiders.

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.