Dollarama (TSE:DOL) Hits New 52-Week High on Analyst Upgrade

Dollarama Inc. (TSE:DOL - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday after TD Securities raised their price target on the stock from C$160.00 to C$185.00. TD Securities currently has a buy rating on the stock. Dollarama traded as high as C$156.59 and last traded at C$155.28, with a volume of 68021 shares traded. The stock had previously closed at C$154.01.

Several other brokerages also recently weighed in on DOL. National Bankshares upgraded shares of Dollarama from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from C$156.00 to C$166.00 in a report on Friday, March 28th. Canaccord Genuity Group increased their price objective on shares of Dollarama from C$146.00 to C$168.00 in a research note on Friday. National Bank Financial upgraded shares of Dollarama from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Desjardins increased their price target on Dollarama from C$150.00 to C$160.00 and gave the stock a "buy" rating in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada upped their target price on Dollarama from C$149.00 to C$183.00 in a research note on Friday. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$163.31.

Dollarama Trading Down 1.9 %

The company's 50 day moving average price is C$146.75 and its 200 day moving average price is C$143.44. The firm has a market cap of C$41.76 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 1.93 and a beta of 0.56. The company has a debt-to-equity ratio of 369.36, a current ratio of 1.43 and a quick ratio of 0.08.

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Dollarama Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, May 9th will be paid a $0.1058 dividend. This is a boost from Dollarama's previous quarterly dividend of $0.09. This represents a $0.42 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Friday, April 18th. Dollarama's dividend payout ratio (DPR) is presently 9.42%.

About Dollarama

Dollarama Inc is a Canada-based company principally engaged in operating discount retail stores. The company provides a broad range of everyday consumer products, general merchandise, and seasonal items, with merchandise at low fixed price points. General merchandise and consumer products jointly account for the majority of the company's product offerings.