Safeway Receives “Neutral” Rating from JPMorgan Chase (SWY)
Safeway (NYSE: SWY)‘s stock had its “neutral” rating restated by analysts at JPMorgan Chase in a research report issued to clients and investors on Thursday. They currently have a $27.00 price target on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Safeway in a research note to investors on Wednesday. Separately, analysts at Bank of America upgraded shares of Safeway from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, February 25th. They now have a $24.00 price target on the stock, up previously from $18.00. Finally, analysts at Guggenheim raised their price target on shares of Safeway from $20.00 to $23.00 in a research note to investors on Friday, February 22nd.
Five equities research analysts have rated the stock with a buy rating, eight have assigned a hold rating, one has issued an underweight rating, and seven have assigned a sell rating to the company. The company has an average rating of “hold” and a consensus target price of $22.31.
Shares of Safeway traded down 0.06% during mid-day trading on Thursday, hitting $23.925. Safeway has a 52 week low of $14.73 and a 52 week high of $25.14. The stock’s 50-day moving average is currently $20.77. The company has a market cap of $5.672 billion and a P/E ratio of 9.97.
Safeway last issued its quarterly earnings data on Thursday, February 21st. The company reported $0.94 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.75 by $0.19. The company had revenue of $13.77 billion for the quarter, compared to the consensus estimate of $13.70 billion. During the same quarter last year, the company posted $0.67 earnings per share. Safeway’s revenue was up 1.2% compared to the same quarter last year. On average, analysts predict that Safeway will post $2.24 earnings per share for the current fiscal year.
Safeway Inc. (Safeway) is a food and drug retailer in North America. As of December 3 1, 2011, the Company had 1,678 stores.
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