Loblaw Companies (L) Hits New 1-Year High at $70.56

Shares of Loblaw Companies Ltd (TSE:L) reached a new 52-week high during trading on Thursday . The company traded as high as C$70.56 and last traded at C$70.43, with a volume of 75308 shares traded. The stock had previously closed at C$69.91.

L has been the subject of several research analyst reports. BMO Capital Markets boosted their price target on shares of Loblaw Companies from C$70.00 to C$83.00 in a report on Friday, February 22nd. Raymond James reissued an “outperform” rating and issued a C$71.00 price target on shares of Loblaw Companies in a report on Friday, February 22nd. Desjardins lowered shares of Loblaw Companies from a “buy” rating to a “hold” rating and boosted their price target for the company from C$66.00 to C$70.00 in a report on Friday, February 22nd. National Bank Financial boosted their price target on shares of Loblaw Companies from C$62.00 to C$67.00 and gave the company a “sector perform” rating in a report on Wednesday, February 6th. Finally, CIBC boosted their price target on shares of Loblaw Companies from C$70.00 to C$76.00 in a report on Friday, February 22nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of C$73.63.

The firm has a market cap of $25.72 billion and a PE ratio of 45.57. The company has a debt-to-equity ratio of 145.02, a quick ratio of 0.64 and a current ratio of 1.25.

Loblaw Companies (TSE:L) last announced its quarterly earnings results on Thursday, February 21st. The company reported C$1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.05 by C($0.02). The firm had revenue of C$11.22 billion for the quarter, compared to the consensus estimate of C$11.28 billion. On average, equities research analysts anticipate that Loblaw Companies Ltd will post 4.7493193912866 earnings per share for the current year.

In related news, Director Willard Galen Garfield Weston sold 28,222 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$65.15, for a total value of C$1,838,533.48. Following the completion of the transaction, the director now directly owns 159,643 shares of the company’s stock, valued at approximately C$10,400,007.09. Also, Senior Officer Jocyanne C. Bourdeau sold 12,577 shares of the company’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of C$65.50, for a total transaction of C$823,793.50. Insiders sold a total of 43,363 shares of company stock valued at $2,829,360 in the last three months.

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Loblaw Companies Company Profile (TSE:L)

Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses 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 comprising in-store pharmacies, other health and beauty product stores, apparel stores, and other general merchandise stores, as well as supports the PC Optimum reward program.

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