TSE:L FY2024 EPS Estimate Lowered by National Bank Financial

Loblaw Companies Limited (TSE:L - Free Report) - Research analysts at National Bank Financial decreased their FY2024 EPS estimates for Loblaw Companies in a research note issued on Sunday, January 26th. National Bank Financial analyst V. Shreedhar now anticipates that the company will post earnings per share of $8.55 for the year, down from their previous estimate of $8.56. The consensus estimate for Loblaw Companies' current full-year earnings is $9.12 per share. National Bank Financial also issued estimates for Loblaw Companies' FY2025 earnings at $9.31 EPS.

L has been the subject of several other reports. UBS Group set a C$225.00 target price on Loblaw Companies and gave the company a "buy" rating in a report on Friday, December 13th. National Bankshares upped their price objective on shares of Loblaw Companies from C$188.00 to C$195.00 in a research note on Thursday, November 14th. TD Securities dropped their target price on shares of Loblaw Companies from C$203.00 to C$202.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th. Scotiabank downgraded shares of Loblaw Companies from an "outperform" rating to a "sector perform" rating and set a C$200.00 price target for the company. in a research report on Wednesday, January 8th. Finally, Desjardins lifted their price objective on shares of Loblaw Companies from C$172.00 to C$190.00 in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$201.88.

Loblaw Companies Price Performance

L traded up C$0.44 during trading on Wednesday, reaching C$184.93. The stock had a trading volume of 203,995 shares, compared to its average volume of 286,760. Loblaw Companies has a 1-year low of C$132.55 and a 1-year high of C$196.49. The firm has a market capitalization of C$56.48 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. The stock has a 50 day moving average of C$186.47 and a two-hundred day moving average of C$178.56. The company has a quick ratio of 0.68, a current ratio of 1.36 and a debt-to-equity ratio of 163.32.

Loblaw Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 30th were given a dividend of $0.513 per share. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Friday, December 13th. Loblaw Companies's dividend payout ratio is currently 31.06%.

Insider Activity at Loblaw Companies

In other news, Director Christie James Beckett Clark sold 2,105 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of C$189.69, for a total value of C$399,297.45. 53.77% of the stock is owned by corporate insiders.

About Loblaw Companies

Loblaw is one of Canada's largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart.