National Bank Financial Forecasts TSE:L FY2024 Earnings

Loblaw Companies Limited (TSE:L) – National Bank Financial decreased their FY2024 earnings per share estimates for shares of Loblaw Companies in a research note issued to investors on Sunday, January 26th. National Bank Financial analyst V. Shreedhar now expects that the company will earn $8.55 per share for the year, down from their prior estimate of $8.56. The consensus estimate for Loblaw Companies’ current full-year earnings is $9.12 per share. National Bank Financial also issued estimates for Loblaw Companies’ FY2025 earnings at $9.31 EPS.

Other equities analysts also recently issued reports about the stock. Scotiabank downgraded shares of Loblaw Companies from an “outperform” rating to a “sector perform” rating and set a C$200.00 price objective on the stock. in a report on Wednesday, January 8th. CIBC lifted their price objective on Loblaw Companies from C$189.00 to C$206.00 in a report on Thursday, November 14th. National Bankshares boosted their price objective on Loblaw Companies from C$188.00 to C$195.00 in a research note on Thursday, November 14th. Desjardins raised their target price on Loblaw Companies from C$172.00 to C$190.00 in a research report on Thursday, November 14th. Finally, UBS Group set a C$225.00 price target on Loblaw Companies and gave the stock a “buy” rating in a research report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$201.88.

Loblaw Companies Stock Down 1.2 %

Loblaw Companies stock opened at C$182.75 on Wednesday. Loblaw Companies has a 12 month low of C$132.55 and a 12 month high of C$196.49. The stock has a market capitalization of C$55.81 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. The company has a debt-to-equity ratio of 163.32, a current ratio of 1.36 and a quick ratio of 0.68. The business has a 50 day simple moving average of C$186.62 and a 200-day simple moving average of C$178.69.

Insider Buying and Selling at Loblaw Companies

In other news, Director Christie James Beckett Clark sold 2,105 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of C$189.69, for a total transaction of C$399,297.45. 53.77% of the stock is owned by company insiders.

Loblaw Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 30th were paid a dividend of $0.513 per share. This represents a $2.05 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Friday, December 13th. Loblaw Companies’s dividend payout ratio (DPR) is currently 31.06%.

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.