Scotiabank Lowers Empire (TSE:EMP.A) Price Target to C$57.00

Empire (TSE:EMP.A) had its price objective cut by research analysts at Scotiabank from C$58.00 to C$57.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 10.42% from the stock’s previous close.

Separately, National Bankshares set a C$59.00 price target on shares of Empire and gave the company a “sector perform” rating in a report on Friday, August 22nd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Empire currently has a consensus rating of “Hold” and an average price target of C$56.57.

Empire Stock Performance

TSE:EMP.A traded down C$0.43 during mid-day trading on Thursday, hitting C$51.62. 89,946 shares of the company’s stock traded hands, compared to its average volume of 442,359. Empire has a 12 month low of C$40.33 and a 12 month high of C$58.32. The firm has a market capitalization of C$11.92 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 16.20 and a beta of 0.08. The firm has a 50 day moving average of C$49.43 and a two-hundred day moving average of C$52.27. The company has a current ratio of 0.79, a quick ratio of 0.29 and a debt-to-equity ratio of 135.51.

About Empire

Empire Co Ltd key businesses are food retailing, investments, and other operations. The food retailing division operates through Empire’s subsidiary Sobeys and represents nearly all of the company’s income. This segment owns, affiliates, or franchises more than 1,500 stores in 10 provinces, under retail banners including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Lawton’s Drug Stores, and multiple retail fuel locations.