Loblaw Companies (TSE:L) Shares Cross Above 200-Day Moving Average – Time to Sell?

Loblaw Companies Limited (TSE:L)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$60.65 and traded as high as C$63.24. Loblaw Companies shares last traded at C$62.23, with a volume of 1,075,854 shares.

Analyst Ratings Changes

A number of brokerages recently issued reports on L. BMO Capital Markets raised their target price on Loblaw Companies from C$63.00 to C$68.00 and gave the stock a “market perform” rating in a research note on Monday, February 23rd. Desjardins lifted their target price on Loblaw Companies from C$67.00 to C$70.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. National Bank Financial raised their price target on shares of Loblaw Companies from C$62.00 to C$66.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Royal Bank Of Canada upped their price objective on shares of Loblaw Companies from C$68.00 to C$72.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Finally, Scotiabank raised their target price on shares of Loblaw Companies from C$68.00 to C$70.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$92.63.

Loblaw Companies Trading Up 1.4%

The firm has a market cap of C$73.94 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 3.23 and a beta of 0.29. The company has a 50-day simple moving average of C$64.20 and a 200 day simple moving average of C$60.69. The company has a current ratio of 1.08, a quick ratio of 0.68 and a debt-to-equity ratio of 227.92.

Loblaw Companies (TSE:L) last posted its earnings results on Wednesday, February 25th. The company reported C$0.67 earnings per share for the quarter. Loblaw Companies had a net margin of 4.17% and a return on equity of 24.03%. The firm had revenue of C$15.70 billion during the quarter. As a group, sell-side analysts forecast that Loblaw Companies Limited will post 9.1225541 earnings per share for the current fiscal year.

Loblaw Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, April 1st will be given a $0.1411 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.9%. Loblaw Companies’s dividend payout ratio is 24.84%.

Loblaw Companies Company Profile

Loblaw is one of Canada’s largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.