Loblaw Companies (L) to Release Quarterly Earnings on Wednesday

Loblaw Companies (TSE:L) will be announcing its earnings results before the market opens on Wednesday, July 24th. Analysts expect the company to announce earnings of C$0.98 per share for the quarter.

Loblaw Companies (TSE:L) last released its earnings results on Wednesday, May 1st. The company reported C$0.78 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.81 by C($0.03). The business had revenue of C$10.66 billion during the quarter, compared to analysts’ expectations of C$10.58 billion.

L opened at C$67.19 on Tuesday. The firm has a market capitalization of $24.64 billion and a P/E ratio of 43.80. The company has a debt-to-equity ratio of 145.02, a current ratio of 1.25 and a quick ratio of 0.64. Loblaw Companies has a 1-year low of C$50.22 and a 1-year high of C$71.52. The business has a 50 day moving average price of C$68.15.

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, July 1st were given a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 1.88%. This is an increase from Loblaw Companies’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, June 13th. Loblaw Companies’s dividend payout ratio is 76.92%.

Several equities research analysts have recently issued reports on L shares. National Bank Financial downgraded Yamana Gold from an “outperform overweight” rating to a “sector perform overweight” rating and lowered their price target for the company from C$5.00 to C$3.75 in a research report on Thursday, April 18th. Raymond James reiterated a “buy” rating and issued a $21.00 target price on shares of Colfax in a research note on Thursday, May 2nd. Desjardins upgraded shares of Loblaw Companies from a “hold” rating to a “buy” rating and set a C$70.00 target price for the company in a research note on Thursday, May 2nd. Finally, BMO Capital Markets upgraded shares of Gold Fields from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of C$73.63.

In related news, Senior Officer Garry Senecal sold 22,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of C$68.91, for a total value of C$1,515,965.00. Following the transaction, the insider now owns 2,656 shares in the company, valued at approximately C$183,018.32. Also, Senior Officer Kieran Barry Columb sold 47,933 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of C$70.14, for a total transaction of C$3,362,020.62. Following the completion of the transaction, the insider now owns 9,834 shares in the company, valued at approximately C$689,756.76. In the last three months, insiders sold 139,199 shares of company stock valued at $9,766,724.

About Loblaw Companies

Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses 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 comprising in-store pharmacies, other health and beauty product stores, apparel stores, and other general merchandise stores, as well as supports the PC Optimum reward program.

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Earnings History for Loblaw Companies (TSE:L)

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