Loblaw Companies (TSE:L) Stock Price Passes Above 200-Day Moving Average - Here's Why

Shares of Loblaw Companies Limited (TSE:L - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$62.13 and traded as high as C$62.74. Loblaw Companies shares last traded at C$61.98, with a volume of 985,275 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on L shares. Scotiabank lowered Loblaw Companies from an "outperform" rating to a "hold" rating and set a C$70.00 price target on the stock. in a research note on Thursday, April 9th. TD Securities increased their price target on Loblaw Companies from C$65.00 to C$75.00 and gave the stock a "buy" rating in a report on Monday, February 23rd. Desjardins raised their price objective on Loblaw Companies from C$67.00 to C$70.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. BMO Capital Markets boosted their price objective on shares of Loblaw Companies from C$63.00 to C$68.00 and gave the company a "market perform" rating in a report on Monday, February 23rd. Finally, Royal Bank Of Canada upped their target price on shares of Loblaw Companies from C$68.00 to C$72.00 and gave the company an "outperform" rating in a research report on Friday, January 23rd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Loblaw Companies currently has a consensus rating of "Moderate Buy" and an average price target of C$69.71.

Loblaw Companies Price Performance

The company has a debt-to-equity ratio of 227.92, a current ratio of 1.08 and a quick ratio of 0.68. The company has a market capitalization of C$72.64 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 3.23 and a beta of 0.30. The stock's 50 day simple moving average is C$63.20 and its 200-day simple moving average is C$62.13.

Loblaw Companies (TSE:L - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported C$0.67 EPS for the quarter. The business had revenue of C$15.70 billion during the quarter. Loblaw Companies had a net margin of 4.17% and a return on equity of 24.03%. As a group, equities analysts forecast that Loblaw Companies Limited will post 9.1225541 earnings per share for the current fiscal year.

Loblaw Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, April 1st were given a $0.1411 dividend. This represents a $0.56 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, March 13th. Loblaw Companies's dividend payout ratio (DPR) is currently 24.84%.

Loblaw Companies Company Profile

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. The firm carries a robust private-label assortment, with top sellers like President's Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.

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