Desjardins Has Optimistic Outlook of TSE:L FY2024 Earnings

Loblaw Companies Limited (TSE:L) – Equities researchers at Desjardins raised their FY2024 earnings per share estimates for shares of Loblaw Companies in a research note issued on Thursday, November 14th. Desjardins analyst C. Li now forecasts that the company will post earnings of $8.57 per share for the year, up from their previous forecast of $8.51. The consensus estimate for Loblaw Companies’ current full-year earnings is $9.12 per share. Desjardins also issued estimates for Loblaw Companies’ Q4 2024 earnings at $2.21 EPS and FY2025 earnings at $9.38 EPS.

L has been the subject of a number of other research reports. Royal Bank of Canada lifted their target price on shares of Loblaw Companies from C$183.00 to C$205.00 in a research note on Tuesday. BMO Capital Markets lifted their price objective on Loblaw Companies from C$160.00 to C$180.00 in a research report on Friday, July 26th. National Bankshares upped their target price on Loblaw Companies from C$188.00 to C$195.00 in a research report on Thursday. CIBC lifted their price target on Loblaw Companies from C$189.00 to C$206.00 in a report on Thursday. Finally, TD Securities lowered their price target 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$191.29.

Loblaw Companies Stock Performance

Shares of L opened at C$180.63 on Friday. The company has a market capitalization of C$55.16 billion, a PE ratio of 27.37, a PEG ratio of 3.23 and a beta of 0.17. 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 company’s 50 day moving average price is C$177.46 and its 200 day moving average price is C$167.82. Loblaw Companies has a 52 week low of C$116.81 and a 52 week high of C$188.77.

Loblaw Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Sunday, December 15th will be paid a dividend of $0.513 per share. This represents a $2.05 annualized dividend and a dividend yield of 1.14%. Loblaw Companies’s dividend payout ratio (DPR) is presently 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.