CIBC Forecasts Strong Price Appreciation for Loblaw Companies (TSE:L) Stock

Loblaw Companies (TSE:L) had its price target raised by CIBC from C$189.00 to C$206.00 in a research report sent to investors on Thursday,BayStreet.CA reports.

Several other brokerages have also recently issued reports on L. TD Securities decreased their price objective on Loblaw Companies from C$203.00 to C$202.00 and set a “buy” rating for the company in a research note on Thursday. Desjardins lifted their price objective on Loblaw Companies from C$172.00 to C$190.00 in a research note on Thursday. National Bankshares lifted their price objective on Loblaw Companies from C$188.00 to C$195.00 in a research note on Thursday. BMO Capital Markets raised their target price on Loblaw Companies from C$160.00 to C$180.00 in a research report on Friday, July 26th. Finally, Royal Bank of Canada raised their target price on Loblaw Companies from C$183.00 to C$205.00 in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Loblaw Companies has an average rating of “Moderate Buy” and an average price target of C$191.29.

Loblaw Companies Stock Up 0.2 %

Shares of L traded up C$0.37 during midday trading on Thursday, hitting C$181.00. The company had a trading volume of 114,403 shares, compared to its average volume of 354,913. The company’s 50-day simple moving average is C$177.55 and its 200-day simple moving average is C$167.91. The company has a debt-to-equity ratio of 163.32, a quick ratio of 0.68 and a current ratio of 1.36. The firm has a market capitalization of C$55.28 billion, a P/E ratio of 27.26, a P/E/G ratio of 3.23 and a beta of 0.17. Loblaw Companies has a 1 year low of C$116.81 and a 1 year high of C$188.77.

Loblaw Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Sunday, December 15th will be given a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a yield of 1.13%. Loblaw Companies’s dividend payout ratio (DPR) is 31.06%.

Loblaw Companies Company Profile

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.