George Weston (TSE:WN) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• George Weston shares moved above their 200-day moving average, reaching C$100.23 before last trading at C$99.75, while remaining below the 50-day average of C$102.59.
• Analyst sentiment is cautiously positive: the stock has a consensus “Moderate Buy” rating from five analysts, with an average price target of C$111.00. Recent target changes were mixed, including BMO’s upgrade to “outperform” and price-target increases, alongside reductions from CIBC and Scotia.
• George Weston reported quarterly EPS of C$1.08 on revenue of C$15.20 billion. The company owns controlling stakes in Loblaw and Choice Properties, but carries high leverage with a debt-to-equity ratio of 438.92.

George Weston Limited (TSE:WN - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$99.53 and traded as high as C$100.23. George Weston shares last traded at C$99.75, with a volume of 335,497 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have issued reports on WN shares. Canadian Imperial Bank of Commerce dropped their price objective on George Weston from C$127.00 to C$117.00 in a report on Wednesday, May 13th. BMO Capital Markets upgraded George Weston from a "hold" rating to an "outperform" rating and increased their target price for the company from C$103.00 to C$113.00 in a research note on Monday, July 20th. Finally, Scotia reduced their target price on George Weston from C$106.00 to C$102.00 and set a "sector perform" rating for the company in a research note on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, George Weston presently has a consensus rating of "Moderate Buy" and an average target price of C$111.00.

George Weston Trading Down 0.1%

The company has a debt-to-equity ratio of 438.92, a quick ratio of 0.73 and a current ratio of 1.05. The business's 50 day moving average price is C$102.59 and its 200-day moving average price is C$99.53. The firm has a market cap of C$37.33 billion, a price-to-earnings ratio of 39.12, a price-to-earnings-growth ratio of 5.03 and a beta of 0.32.

George Weston (TSE:WN - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported C$1.08 EPS for the quarter. George Weston had a return on equity of 20.42% and a net margin of 1.59%.The business had revenue of C$15.20 billion during the quarter. Equities analysts expect that George Weston Limited will post 13.0245758 EPS for the current year.

About George Weston

George Weston is a holding company that operates through two subsidiaries encompassing retail and real estate. The first is Loblaw, the largest grocer in Canada, in which it has a 53% controlling stake. The second is Choice Properties, an open-ended real estate investment trust, where George Weston's ownership sits close to 62%. The company sold Weston Foods, a North American bakery, in early 2022, which the firm had previously wholly owned. While the two remaining entities are separate, they operate under a contractual, as well as tacit, framework of strategic business partnerships.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source