Empire (TSE:EMP.A) Share Price Crosses Above 200-Day Moving Average of $40.10

Empire Company Limited (TSE:EMP.AGet Rating)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$40.10 and traded as high as C$43.49. Empire shares last traded at C$42.57, with a volume of 335,590 shares changing hands.

EMP.A has been the topic of a number of research analyst reports. BMO Capital Markets upped their price target on Empire from C$41.00 to C$46.00 in a report on Friday, March 11th. Berenberg Bank lowered their target price on Empire from C$46.00 to C$44.00 in a report on Monday, March 14th. CIBC raised their price objective on Empire from C$49.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Friday, March 11th. TD Securities raised their price objective on Empire from C$44.00 to C$50.00 and gave the stock a “buy” rating in a research note on Friday, March 11th. Finally, National Bankshares raised their price target on Empire from C$46.00 to C$48.00 and gave the company an “outperform” rating in a report on Friday, March 11th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$47.40.

The company has a debt-to-equity ratio of 152.06, a quick ratio of 0.43 and a current ratio of 0.86. The company has a 50 day simple moving average of C$43.22 and a two-hundred day simple moving average of C$40.13. The firm has a market cap of C$11.13 billion and a PE ratio of 15.27.

The company also recently announced a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Friday, April 29th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, April 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.42%. Empire’s payout ratio is currently 20.94%.

In other Empire news, Senior Officer Pierre St-Laurent sold 7,995 shares of the firm’s stock in a transaction on Friday, April 8th. The stock was sold at an average price of C$45.01, for a total value of C$359,854.95. Following the sale, the insider now directly owns 1,456 shares in the company, valued at C$65,534.56. Also, Senior Officer Douglas Bigler Nathanson sold 11,321 shares of the firm’s stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of C$45.06, for a total value of C$510,124.26. Following the transaction, the insider now directly owns 18,442 shares in the company, valued at approximately C$830,996.52.

Empire Company Profile (TSE:EMP.A)

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.

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