Desjardins Equities Analysts Decrease Earnings Estimates for Loblaw Companies Limited (TSE:L)

Loblaw Companies Limited (TSE:L - Free Report) - Equities research analysts at Desjardins reduced their Q1 2024 earnings per share (EPS) estimates for Loblaw Companies in a report issued on Sunday, April 28th. Desjardins analyst C. Li now forecasts that the company will post earnings of $1.72 per share for the quarter, down from their prior forecast of $1.75. Desjardins currently has a "Hold" rating and a $157.00 target price on the stock. The consensus estimate for Loblaw Companies' current full-year earnings is $8.49 per share. Desjardins also issued estimates for Loblaw Companies' Q2 2024 earnings at $2.14 EPS, Q3 2024 earnings at $2.47 EPS and FY2025 earnings at $9.27 EPS.

Several other equities analysts have also commented on L. CIBC decreased their price target on Loblaw Companies from C$150.00 to C$149.00 and set an "outperform" rating on the stock in a research note on Friday, February 23rd. Royal Bank of Canada increased their target price on Loblaw Companies from C$170.00 to C$172.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 24th. BMO Capital Markets increased their target price on Loblaw Companies from C$130.00 to C$145.00 in a research note on Friday, February 23rd. TD Securities increased their target price on Loblaw Companies from C$150.00 to C$160.00 and gave the stock a "buy" rating in a research note on Friday, February 23rd. Finally, National Bankshares increased their target price on Loblaw Companies from C$153.00 to C$156.00 and gave the stock an "outperform" rating in a research note on Monday, April 15th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Loblaw Companies presently has a consensus rating of "Moderate Buy" and a consensus price target of C$155.32.

Loblaw Companies Trading Down 1.1 %

Shares of Loblaw Companies stock traded down C$1.68 during trading hours on Tuesday, hitting C$150.96. The company's stock had a trading volume of 194,633 shares, compared to its average volume of 366,523. Loblaw Companies has a twelve month low of C$110.52 and a twelve month high of C$154.70. The firm has a fifty day moving average of C$148.76 and a 200-day moving average of C$133.44. The stock has a market cap of C$46.69 billion, a price-to-earnings ratio of 23.15, a P/E/G ratio of 2.53 and a beta of 0.12. The company has a debt-to-equity ratio of 156.41, a quick ratio of 0.68 and a current ratio of 1.25.

Loblaw Companies (TSE:L - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported C$2.00 earnings per share for the quarter, topping analysts' consensus estimates of C$1.92 by C$0.08. The company had revenue of C$14.53 billion for the quarter, compared to analyst estimates of C$14.58 billion. Loblaw Companies had a return on equity of 18.96% and a net margin of 3.53%.

Insider Activity

In other news, Director Willard Galen Garfield Weston sold 13,354 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of C$145.84, for a total value of C$1,947,558.04. In related news, Director Willard Galen Garfield Weston sold 13,354 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of C$145.84, for a total value of C$1,947,558.04. Also, Senior Officer Frank Gambioli sold 4,603 shares of the firm's stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$144.00, for a total value of C$662,832.00. Insiders sold 71,495 shares of company stock valued at $10,547,163 in the last three months. 52.69% of the stock is currently owned by company insiders.

Loblaw Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, April 1st were issued a $0.446 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.78 annualized dividend and a dividend yield of 1.18%. Loblaw Companies's dividend payout ratio is currently 27.30%.

About Loblaw Companies

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparels, general merchandise, financial services, and wireless mobile products and services in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores.