Loblaw Companies Ltd (L) Given Consensus Rating of “Buy” by Brokerages

Loblaw Companies Ltd (TSE:L) has been given an average rating of “Buy” by the ten brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is C$79.80.

A number of research firms recently weighed in on L. Desjardins dropped their price target on Loblaw Companies from C$84.00 to C$76.00 and set a “hold” rating for the company in a report on Tuesday. Raymond James Financial raised their price target on Loblaw Companies from C$80.00 to C$85.00 and gave the company an “outperform” rating in a report on Thursday, November 16th. CIBC dropped their price target on Loblaw Companies from C$84.00 to C$83.00 in a report on Thursday, November 16th. Barclays raised their price target on Loblaw Companies from C$74.00 to C$75.00 in a report on Thursday, November 16th. Finally, Eight Capital raised their price target on Loblaw Companies from C$73.00 to C$75.00 in a report on Thursday, November 16th.

Shares of Loblaw Companies (TSE:L) traded down C$2.22 on Tuesday, hitting C$67.00. The stock had a trading volume of 870,473 shares, compared to its average volume of 564,383. Loblaw Companies has a fifty-two week low of C$64.65 and a fifty-two week high of C$78.87. The firm has a market cap of $26,200.00, a PE ratio of 15.97 and a beta of 0.36.

Loblaw Companies (TSE:L) last issued its earnings results on Wednesday, November 15th. The company reported C$1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$1.30 by C$0.09. Loblaw Companies had a return on equity of 22.12% and a net margin of 6.30%.

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Loblaw Companies Company Profile

Loblaw Companies Limited is a Canada-based holding company. The Company operates through three segments: Retail, Financial Services and Choice Properties. The Company’s Retail segment consists of corporate and franchise-owned retail food and Associate-owned drug stores, and includes in-store pharmacies and other health and beauty products, gas bars, apparel and other general merchandise.

Analyst Recommendations for Loblaw Companies (TSE:L)

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