Q2 2024 EPS Estimates for Loblaw Companies Limited Decreased by National Bank Financial (TSE:L)

Loblaw Companies Limited (TSE:L) – Investment analysts at National Bank Financial cut their Q2 2024 earnings per share estimates for Loblaw Companies in a research note issued on Wednesday, May 1st. National Bank Financial analyst V. Shreedhar now anticipates that the company will earn $2.15 per share for the quarter, down from their previous estimate of $2.17. The consensus estimate for Loblaw Companies’ current full-year earnings is $8.49 per share. National Bank Financial also issued estimates for Loblaw Companies’ Q4 2024 earnings at $2.20 EPS, FY2024 earnings at $8.46 EPS, Q1 2025 earnings at $1.90 EPS, Q2 2025 earnings at $2.34 EPS, Q4 2025 earnings at $2.40 EPS and FY2025 earnings at $9.24 EPS.

A number of other analysts also recently commented on the company. Scotiabank upped their price objective on Loblaw Companies from C$148.27 to C$161.00 and gave the stock a “sector perform” rating in a report on Thursday. Royal Bank of Canada upped their price target on Loblaw Companies from C$170.00 to C$172.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. National Bankshares lifted their price objective on Loblaw Companies from C$156.00 to C$159.00 and gave the company an “outperform” rating in a research note on Thursday. BMO Capital Markets boosted their target price on Loblaw Companies from C$130.00 to C$145.00 in a report on Friday, February 23rd. Finally, Desjardins raised their price target on shares of Loblaw Companies from C$148.00 to C$157.00 and gave the company a “hold” rating in a report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$162.43.

Loblaw Companies Stock Performance

Shares of L stock opened at C$153.93 on Friday. 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 firm has a market capitalization of C$47.60 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 2.53 and a beta of 0.12. Loblaw Companies has a one year low of C$110.52 and a one year high of C$155.22. The company has a 50 day moving average price of C$149.47 and a 200 day moving average price of C$133.99.

Loblaw Companies (TSE:L) last posted its quarterly earnings data on Thursday, February 22nd. The company reported C$2.00 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of C$14.58 billion.

Loblaw Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Saturday, June 15th will be given a dividend of $0.513 per share. The ex-dividend date is Friday, June 14th. This is a positive change from Loblaw Companies’s previous quarterly dividend of $0.45. This represents a $2.05 annualized dividend and a yield of 1.33%. Loblaw Companies’s payout ratio is 27.30%.

Insider Transactions at Loblaw Companies

In related news, Senior Officer Robert Wayne Wiebe sold 16,583 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of C$150.00, for a total value of C$2,487,450.00. In other news, Senior Officer Robert Wayne Wiebe sold 16,583 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of C$150.00, for a total value of C$2,487,450.00. Also, Senior Officer Kieran Barry Columb sold 10,000 shares of the company’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. Over the last three months, insiders have sold 71,495 shares of company stock valued at $10,547,163. Corporate insiders own 52.69% of the company’s stock.

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.