Desjardins Weighs in on Loblaw Companies Limited’s Q1 2024 Earnings (TSE:L)

Loblaw Companies Limited (TSE:L) – Research analysts at Desjardins lowered their Q1 2024 earnings per share (EPS) estimates for Loblaw Companies in a note issued to investors on Sunday, April 28th. Desjardins analyst C. Li now anticipates that the company will post earnings of $1.72 per share for the quarter, down from their previous forecast of $1.75. Desjardins currently has a “Hold” rating and a $157.00 target price on the stock. The consensus estimate for Loblaw Companies’ current full-year earnings is $8.49 per share. Desjardins also issued estimates for Loblaw Companies’ Q2 2024 earnings at $2.14 EPS, Q3 2024 earnings at $2.47 EPS and FY2025 earnings at $9.27 EPS.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada upped their price objective on Loblaw Companies from C$170.00 to C$172.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. National Bankshares increased their price objective on shares of Loblaw Companies from C$153.00 to C$156.00 and gave the company an “outperform” rating in a report on Monday, April 15th. TD Securities upped their target price on shares of Loblaw Companies from C$150.00 to C$160.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Scotiabank lifted their price target on shares of Loblaw Companies from C$146.00 to C$148.27 and gave the company a “sector perform” rating in a report on Monday, April 22nd. Finally, BMO Capital Markets increased their price objective on shares of Loblaw Companies from C$130.00 to C$145.00 in a report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$155.32.

Loblaw Companies Stock Performance

Shares of L opened at C$152.64 on Tuesday. Loblaw Companies has a 52 week low of C$110.52 and a 52 week high of C$154.70. The company has a quick ratio of 0.68, a current ratio of 1.25 and a debt-to-equity ratio of 156.41. The stock has a market cap of C$47.21 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 2.53 and a beta of 0.12. The business has a 50-day simple moving average of C$148.52 and a two-hundred day simple moving average of C$133.18.

Loblaw Companies (TSE:L) last released its quarterly earnings results on Thursday, February 22nd. The company reported C$2.00 EPS for the quarter, beating the consensus estimate of C$1.92 by C$0.08. The firm had revenue of C$14.53 billion during the quarter, compared to analyst estimates of C$14.58 billion. Loblaw Companies had a net margin of 3.53% and a return on equity of 18.96%.

Insider Buying and Selling

In related news, Director Willard Galen Garfield Weston sold 13,354 shares of Loblaw Companies stock in a transaction dated Monday, March 4th. The stock was sold at an average price of C$145.84, for a total value of C$1,947,558.04. In related news, Director Willard Galen Garfield Weston sold 13,354 shares of Loblaw Companies stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of C$145.84, for a total transaction of C$1,947,558.04. Also, Senior Officer Frank Gambioli sold 4,603 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of C$144.00, for a total value of C$662,832.00. Insiders have sold a total of 71,495 shares of company stock valued at $10,547,163 over the last quarter. 52.69% of the stock is owned by corporate insiders.

Loblaw Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, April 1st were issued a $0.446 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.17%. Loblaw Companies’s payout ratio is 27.30%.

Loblaw Companies Company Profile

Loblaw Companies Limited, a food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparels, general merchandise, financial services, and wireless mobile products and services 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.