Loblaw Companies (L) to Release Quarterly Earnings on Thursday

Loblaw Companies (TSE:L) is scheduled to release its earnings data before the market opens on Thursday, July 25th. Analysts expect Loblaw Companies to post earnings of C$2.15 per share for the quarter.

Loblaw Companies (TSE:L) last announced its quarterly earnings data on Wednesday, May 1st. The company reported C$1.72 EPS for the quarter, beating the consensus estimate of C$1.70 by C$0.02. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%. The firm had revenue of C$13.58 billion during the quarter, compared to analysts’ expectations of C$13.29 billion.

Loblaw Companies Trading Up 0.6 %

Shares of L opened at C$169.82 on Wednesday. Loblaw Companies has a twelve month low of C$110.52 and a twelve month high of C$170.09. The company has a current ratio of 1.25, a quick ratio of 0.68 and a debt-to-equity ratio of 156.41. The firm has a market capitalization of C$52.20 billion, a P/E ratio of 25.69, a PEG ratio of 2.53 and a beta of 0.12. The firm’s 50-day moving average is C$159.95 and its two-hundred day moving average is C$149.75.

Loblaw Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, July 1st were issued a $0.513 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.21%. This is a boost from Loblaw Companies’s previous quarterly dividend of $0.45. Loblaw Companies’s dividend payout ratio is currently 31.01%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on L shares. TD Securities boosted their target price on Loblaw Companies from C$172.00 to C$186.00 and gave the stock a “buy” rating in a research report on Monday. Desjardins increased their price objective on shares of Loblaw Companies from C$157.00 to C$172.00 and gave the company a “hold” rating in a research note on Tuesday. CIBC lifted their target price on shares of Loblaw Companies from C$159.00 to C$171.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. National Bankshares increased their price target on shares of Loblaw Companies from C$156.00 to C$159.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Finally, Scotiabank lifted their price objective on Loblaw Companies from C$148.27 to C$161.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$166.57.

Insiders Place Their Bets

In other Loblaw Companies news, Senior Officer Nicholas Henn sold 9,425 shares of Loblaw Companies stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of C$156.66, for a total value of C$1,476,488.46. In other news, Senior Officer Frank Gambioli sold 14,840 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of C$157.00, for a total transaction of C$2,329,880.00. Also, Senior Officer Nicholas Henn sold 9,425 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of C$156.66, for a total transaction of C$1,476,488.46. Insiders have sold 83,929 shares of company stock valued at $13,160,644 in the last ninety days. Insiders own 53.29% of the company’s stock.

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.