Empire Company Limited (TSE:EMP.A) Given Average Recommendation of “Hold” by Brokerages

Empire Company Limited (TSE:EMP.A) has earned an average rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$33.81.

A number of research analysts have recently issued reports on the stock. TD Securities raised shares of DREAM Unlimited from a “buy” rating to an “action list buy” rating and set a C$11.50 price objective on the stock in a research report on Tuesday, July 2nd. BMO Capital Markets cut their price objective on shares of Methanex from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. CIBC cut their price objective on shares of TFI International from C$47.00 to C$45.00 in a research report on Tuesday, July 2nd. Raymond James set a $29.00 price objective on shares of Seacoast Banking Co. of Florida and gave the stock a “buy” rating in a research report on Friday, June 21st. Finally, National Bank Financial downgraded shares of Detour Gold to a “hold” rating in a research report on Friday, June 28th.

TSE EMP.A traded up C$0.39 during trading on Friday, reaching C$33.69. 312,290 shares of the company’s stock traded hands, compared to its average volume of 314,151. The company has a debt-to-equity ratio of 49.50, a quick ratio of 0.38 and a current ratio of 0.98. The stock has a market cap of $5.85 billion and a price-to-earnings ratio of 23.73. The company has a 50 day simple moving average of C$31.83. Empire has a 12-month low of C$22.38 and a 12-month high of C$33.89.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.42%. This is a boost from Empire’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, July 12th. Empire’s payout ratio is presently 33.80%.

Empire Company Profile

Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,500 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawtons Drugs; and approximately 350 retail fuel locations.

Further Reading: Return on Investment (ROI)

Analyst Recommendations for Empire (TSE:EMP.A)

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