Loblaw Companies Limited (TSE:L) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Loblaw Companies Limited has been rated as a "Moderate Buy" by eight research firms, with two analysts recommending a hold and six suggesting a buy.
• The average 12-month target price for the stock is now C$199.25, with significant price adjustments from various banks, including increases by BMO Capital Markets and Royal Bank of Canada.
• The company recently announced a quarterly dividend of $0.5643, translating to an annual yield of 4.1%, scheduled for payment on October 1st.

Loblaw Companies Limited (TSE:L - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$199.25.

A number of equities research analysts have issued reports on the stock. BMO Capital Markets increased their target price on shares of Loblaw Companies from C$220.00 to C$230.00 and gave the stock a "market perform" rating in a report on Friday, July 25th. National Bankshares decreased their target price on Loblaw Companies from C$242.00 to C$60.00 in a report on Wednesday, August 20th. Royal Bank Of Canada boosted their target price on Loblaw Companies from C$234.00 to C$267.00 in a research note on Monday, July 21st. Scotiabank increased their price target on Loblaw Companies from C$61.00 to C$65.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. Finally, Desjardins lifted their price objective on Loblaw Companies from C$230.00 to C$235.00 and gave the company a "hold" rating in a research note on Friday, July 25th.

Loblaw Companies Trading Down 1.2%

L opened at C$55.58 on Friday. Loblaw Companies has a 52 week low of C$42.56 and a 52 week high of C$59.70. The company has a quick ratio of 0.68, a current ratio of 1.29 and a debt-to-equity ratio of 166.11. The business has a fifty day simple moving average of C$160.53 and a 200-day simple moving average of C$194.00. The firm has a market cap of C$66.08 billion, a P/E ratio of 27.55, a P/E/G ratio of 3.23 and a beta of 0.42.

Loblaw Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, October 1st will be paid a $0.5643 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.26 dividend on an annualized basis and a yield of 4.1%. Loblaw Companies's payout ratio is currently 26.06%.

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.

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