Empire (TSE:EMP.A) Hits New 12-Month Low at $31.51

Empire Company Limited (TSE:EMP.A - Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as C$31.51 and last traded at C$31.62, with a volume of 124815 shares changing hands. The stock had previously closed at C$31.67.

Analyst Upgrades and Downgrades

EMP.A has been the topic of several analyst reports. TD Securities cut their target price on Empire from C$37.00 to C$36.00 and set a "hold" rating on the stock in a research report on Friday, March 15th. National Bankshares cut their target price on Empire from C$41.00 to C$40.00 in a research report on Friday, March 15th. Royal Bank of Canada cut their price objective on Empire from C$49.00 to C$43.00 and set a "sector perform" rating on the stock in a research report on Friday, March 15th. Desjardins cut their price objective on Empire from C$40.00 to C$39.00 and set a "buy" rating on the stock in a research report on Wednesday, March 6th. Finally, BMO Capital Markets cut their price objective on Empire from C$37.00 to C$35.00 in a research report on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of C$38.86.

Empire Stock Performance

The business has a 50 day simple moving average of C$33.52 and a 200 day simple moving average of C$35.61. The company has a quick ratio of 0.29, a current ratio of 0.80 and a debt-to-equity ratio of 133.75. The company has a market capitalization of C$4.64 billion, a PE ratio of 10.52, a PEG ratio of 16.20 and a beta of 0.47.

Empire Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 30th will be issued a $0.1825 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, April 12th. Empire's dividend payout ratio is presently 24.17%.

Empire Company Profile

Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,500 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawtons Drugs; and approximately 350 retail fuel locations.