Empire (TSE:EMP.A) Price Target Raised to C$56.00

Empire (TSE:EMP.A) had its price target increased by equities research analysts at Desjardins from C$53.00 to C$56.00 in a report issued on Sunday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ target price would suggest a potential upside of 10.06% from the company’s current price.

Other analysts also recently issued research reports about the company. Royal Bank Of Canada lifted their price target on Empire from C$55.00 to C$58.00 and gave the company a “sector perform” rating in a research note on Friday. National Bank Financial increased their price objective on Empire from C$54.00 to C$55.00 and gave the stock a “sector perform” rating in a report on Monday, June 15th. TD lifted their target price on Empire from C$50.00 to C$53.00 and gave the company a “hold” rating in a research report on Friday. Scotiabank cut Empire from an “outperform” rating to a “sector perform” rating and set a C$52.00 target price on the stock. in a research note on Thursday, April 9th. Finally, Canadian Imperial Bank of Commerce upped their price target on Empire from C$54.00 to C$58.00 and gave the stock an “outperformer” rating in a research report on Friday. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$54.57.

Empire Stock Down 0.7%

Shares of TSE:EMP.A traded down C$0.37 during midday trading on Friday, reaching C$50.88. 465,678 shares of the company were exchanged, compared to its average volume of 482,846. Empire has a fifty-two week low of C$43.81 and a fifty-two week high of C$58.32. The company has a quick ratio of 0.29, a current ratio of 0.79 and a debt-to-equity ratio of 135.51. The stock has a fifty day simple moving average of C$47.81 and a two-hundred day simple moving average of C$48.10. The firm has a market cap of C$11.45 billion, a PE ratio of 59.16, a P/E/G ratio of 16.20 and a beta of -0.20.

Empire (TSE:EMP.A) last announced its earnings results on Thursday, June 18th. The company reported C$0.94 earnings per share for the quarter. The firm had revenue of C$7.81 billion during the quarter. Empire had a net margin of 2.18% and a return on equity of 12.94%. As a group, sell-side analysts forecast that Empire will post 2.9581227 earnings per share for the current year.

Empire Company Profile

Empire Co Ltd key businesses are food retailing, investments, and other operations. The food retailing division operates through Empire’s subsidiary Sobeys and represents nearly all of the company’s income. This segment owns, affiliates, or franchises more than 1,500 stores in 10 provinces, under retail banners including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Lawton’s Drug Stores, and multiple retail fuel locations. The company’s investment and other operations segment include the investment in Crombie REIT, which is an open-ended Canadian real estate investment trust, as well as the Genstar Development Partnership.