Dollarama (DOL) Stock Price Down 15.3%

Dollarama Inc (TSE:DOL) shares traded down 15.3% during mid-day trading on Thursday . The company traded as low as C$41.63 and last traded at C$44.09. 1,490,531 shares changed hands during mid-day trading, an increase of 56% from the average session volume of 953,751 shares. The stock had previously closed at C$52.07.

DOL has been the topic of a number of recent research reports. TD Securities lowered Dollarama from a “buy” rating to a “hold” rating and cut their price target for the company from C$59.00 to C$49.00 in a research note on Friday. Raymond James cut their price target on Dollarama from C$56.00 to C$50.00 and set an “outperform” rating on the stock in a research note on Friday. Canaccord Genuity cut their price target on Dollarama from C$59.00 to C$55.00 in a research note on Friday. CIBC cut their price target on Dollarama from C$59.00 to C$46.00 in a research note on Friday. Finally, Macquarie cut their price target on Dollarama from C$56.33 to C$49.00 in a research note on Friday. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of C$84.18.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Friday, October 5th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Thursday, October 4th.

In related news, Director John Assaly sold 13,404 shares of Dollarama stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of C$153.60, for a total value of C$2,058,854.40.

Dollarama Company Profile (TSE:DOL)

Dollarama Inc operates a chain of dollar stores in Canada. The company's stores offer consumer products, general merchandise, and seasonal items, including private label and branded products. As of June 7, 2018, it operated 1,170 stores. The company was formerly known as Dollarama Capital Corporation and changed its name to Dollarama Inc in September 2009.

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