Q3 2024 Earnings Forecast for Loblaw Companies Limited (TSE:L) Issued By National Bank Financial

Loblaw Companies Limited (TSE:L) – Research analysts at National Bank Financial boosted their Q3 2024 earnings estimates for shares of Loblaw Companies in a research report issued on Sunday, April 14th. National Bank Financial analyst V. Shreedhar now anticipates that the company will earn $2.39 per share for the quarter, up from their previous forecast of $2.33. The consensus estimate for Loblaw Companies’ current full-year earnings is $8.49 per share.

Loblaw Companies (TSE:L) last announced its earnings results on Thursday, February 22nd. The company reported C$2.00 EPS for the quarter, topping the consensus estimate of C$1.92 by C$0.08. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%. The company had revenue of C$14.53 billion for the quarter, compared to analysts’ expectations of C$14.58 billion.

Other analysts have also issued research reports about the stock. National Bankshares increased their price target on shares of Loblaw Companies from C$153.00 to C$156.00 and gave the stock an “outperform” rating in a research report on Monday. CIBC cut their target price on shares of Loblaw Companies from C$150.00 to C$149.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. Scotiabank raised their target price on shares of Loblaw Companies from C$137.00 to C$146.00 and gave the company a “sector perform” rating in a research report on Friday, February 23rd. BMO Capital Markets raised their target price on shares of Loblaw Companies from C$130.00 to C$145.00 in a research report on Friday, February 23rd. Finally, TD Securities raised their target price on shares of Loblaw Companies from C$150.00 to C$160.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$153.71.

Loblaw Companies Price Performance

Shares of TSE L traded up C$0.74 during trading hours on Wednesday, hitting C$149.01. 203,852 shares of the stock were exchanged, compared to its average volume of 374,845. The company has a debt-to-equity ratio of 156.41, a quick ratio of 0.68 and a current ratio of 1.25. The company has a market cap of C$46.08 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 2.53 and a beta of 0.12. The company’s fifty day simple moving average is C$145.76 and its two-hundred day simple moving average is C$131.02. Loblaw Companies has a 1-year low of C$110.52 and a 1-year high of C$154.70.

Insider Transactions at Loblaw Companies

In other news, Senior Officer Kieran Barry Columb sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of C$150.00, for a total transaction of C$1,500,000.00. In related news, Senior Officer Kieran Barry Columb sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of C$150.00, for a total transaction of C$1,500,000.00. Also, Senior Officer Frank Gambioli sold 4,603 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$144.00, for a total transaction of C$662,832.00. Insiders sold a total of 71,495 shares of company stock valued at $10,547,163 over the last three months. Corporate insiders own 52.69% of the company’s stock.

Loblaw Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, April 1st were given a dividend of $0.446 per share. This represents a $1.78 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, March 14th. Loblaw Companies’s payout ratio is presently 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.