Empire (TSE:EMP.A) PT Set at C$57.00 by Canadian Imperial Bank of Commerce

Empire (TSE:EMP.A) has been given a C$57.00 target price by equities researchers at Canadian Imperial Bank of Commerce in a note issued to investors on Thursday, BayStreet reports. The firm currently has a “neutral” rating on the stock. Canadian Imperial Bank of Commerce‘s target price indicates a potential upside of 9.87% from the company’s current price.

A number of other research analysts have also recently commented on the company. TD reduced their target price on Empire from C$53.00 to C$52.00 and set a “hold” rating on the stock in a research note on Friday, September 11th. Scotia lowered their price target on Empire from C$50.00 to C$48.00 and set a “sector perform” rating on the stock in a research report on Friday, September 11th. Desjardins dropped their price target on Empire from C$57.00 to C$53.00 and set a “buy” rating for the company in a research note on Friday, September 11th. National Bank Financial cut their price objective on Empire from C$56.00 to C$54.00 and set a “sector perform” rating for the company in a report on Friday, September 11th. Finally, BMO Capital Markets upgraded Empire from a “market perform” rating to an “outperform” rating and set a C$58.00 price objective for the company in a report on Monday, July 20th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$53.56.

Empire Price Performance

Shares of TSE:EMP.A traded up C$1.59 during trading on Thursday, reaching C$51.88. The company had a trading volume of 474,239 shares, compared to its average volume of 517,170. The company has a fifty day moving average of C$48.21 and a two-hundred day moving average of C$48.60. The stock has a market capitalization of C$11.61 billion, a P/E ratio of 52.40, a price-to-earnings-growth ratio of 16.20 and a beta of -0.21. Empire has a 12 month low of C$43.81 and a 12 month high of C$52.64. The company has a current ratio of 0.79, a quick ratio of 0.29 and a debt-to-equity ratio of 135.51.

Empire (TSE:EMP.A) last posted its quarterly earnings data on Thursday, September 10th. The company reported C$1.04 earnings per share for the quarter. Empire had a net margin of 2.18% and a return on equity of 12.94%. The firm had revenue of C$8.47 billion for the quarter. Equities research analysts forecast that Empire will post 2.96 earnings per share for the current year.

Empire Company Profile

Empire Company Limited (TSX: EMP.A) is a Canadian company headquartered in Stellarton, Nova Scotia. Empire’s key businesses are food retailing, through wholly-owned subsidiary Sobeys Inc, and related real estate. With approximately $32 billion in annual sales and $17 billion in assets, Empire and its subsidiaries, franchisees and affiliates employ approximately 130,000 people. Additional financial information relating to Empire, including the Company’s Annual Information Form, can be found on the Company’s website at www.empireco.ca or on SEDAR+ at www.sedarplus.ca.