Desjardins Has Optimistic Outlook of TSE:L FY2024 Earnings

Loblaw Companies Limited (TSE:L) – Desjardins boosted their FY2024 earnings per share (EPS) estimates for Loblaw Companies in a report issued on Thursday, November 14th. Desjardins analyst C. Li now forecasts that the company will post earnings of $8.57 per share for the year, up from their prior estimate of $8.51. The consensus estimate for Loblaw Companies’ current full-year earnings is $9.12 per share. Desjardins also issued estimates for Loblaw Companies’ Q4 2024 earnings at $2.21 EPS and FY2025 earnings at $9.38 EPS.

Other equities research analysts have also recently issued reports about the company. TD Securities reduced their price objective on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a research report on Thursday. CIBC increased their price target on shares of Loblaw Companies from C$189.00 to C$206.00 in a report on Thursday. Royal Bank of Canada boosted their price objective on shares of Loblaw Companies from C$183.00 to C$205.00 in a report on Tuesday. National Bankshares increased their target price on shares of Loblaw Companies from C$188.00 to C$195.00 in a research note on Thursday. Finally, BMO Capital Markets lifted their target price on Loblaw Companies from C$160.00 to C$180.00 in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$191.29.

Loblaw Companies Stock Performance

L opened at C$180.63 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.36 and a debt-to-equity ratio of 163.32. The stock’s 50 day moving average price is C$177.46 and its two-hundred day moving average price is C$167.82. The firm has a market capitalization of C$55.16 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. Loblaw Companies has a 12-month low of C$116.81 and a 12-month high of C$188.77.

Loblaw Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Sunday, December 15th will be issued a dividend of $0.513 per share. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.14%. Loblaw Companies’s payout ratio is 31.06%.

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.