Scotiabank Has Optimistic Outlook of Empire FY2027 Earnings

Empire (TSE:EMP) – Scotiabank lifted their FY2027 EPS estimates for shares of Empire in a report issued on Thursday, September 17th. Scotiabank analyst J. Zamparo now expects that the company will post earnings of $3.52 per share for the year, up from their prior estimate of $3.48.

A number of other equities analysts also recently issued reports on EMP. BMO Capital Markets upgraded Empire from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. TD Securities upgraded shares of Empire to a “hold” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Empire Stock Performance

Empire has a one year low of C$23.00 and a one year high of C$25.49.

Empire Company Profile

Empire Company Limited is engaged in the business of food retailing and related real estate. The Company’s segments include Food Retailing, and Investments and Other Operations. The Food Retailing segment consists of its subsidiary, Sobeys Inc, which owns, affiliates or franchises over 1,500 stores in approximately 10 provinces under retail banners that include Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawton’s Drug Stores, as well as more than 350 retail fuel locations. The Company’s Investments and Other Operations segment includes equity accounted interest in Crombie REIT, which is an open-ended real estate investment trust owning a portfolio of over 260 retail and office properties across Canada, and equity accounted interests in Genstar Development Partnership, Genstar Development Partnership II, GDC Investments 4, L.P., GDC Investments 6, L.P., GDC Investments 7, L.P., GDC Investments 8, L.P.