Brokerages Set Loblaw Companies Ltd (L) PT at $80.60

Shares of Loblaw Companies Ltd (TSE:L) have been assigned a consensus recommendation of “Buy” from the ten research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$80.60.

Several equities research analysts have recently issued reports on the company. Raymond James Financial, Inc. lifted 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. Eight Capital boosted their target price on Loblaw Companies from C$73.00 to C$75.00 in a report on Thursday. CIBC reduced their target price on Loblaw Companies from C$84.00 to C$83.00 in a report on Thursday. Desjardins set a C$84.00 target price on Loblaw Companies and gave the stock a “buy” rating in a report on Thursday. Finally, Scotiabank reduced their target price on Loblaw Companies from C$79.00 to C$76.00 and set a “sector perform” rating for the company in a report on Thursday, July 27th.

Shares of Loblaw Companies (TSE L) traded up C$0.08 during trading on Thursday, hitting C$69.24. The stock had a trading volume of 378,700 shares, compared to its average volume of 563,680. Loblaw Companies has a fifty-two week low of C$64.65 and a fifty-two week high of C$78.87.

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 30th. Investors of record on Friday, December 15th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.08 annualized dividend and a yield of 1.56%. Loblaw Companies’s dividend payout ratio (DPR) is currently 25.06%.

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About Loblaw Companies

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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