Empire Company Limited (EMP.A) Receives C$31.67 Average Price Target from Analysts

Shares of Empire Company Limited (TSE:EMP.A) have been assigned an average recommendation of “Buy” from the nine research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$31.67.

EMP.A has been the topic of several research reports. CIBC raised shares of Empire from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from C$27.00 to C$33.00 in a research note on Friday, December 14th. TD Securities lifted their target price on shares of Empire from C$27.00 to C$30.00 and gave the stock a “hold” rating in a report on Friday, December 14th. National Bank Financial boosted their price objective on shares of Empire from C$30.00 to C$33.00 and gave the company an “outperform” rating in a report on Friday, December 14th. Royal Bank of Canada boosted their price objective on shares of Empire from C$29.00 to C$30.00 in a report on Friday, December 14th. Finally, BMO Capital Markets boosted their price objective on shares of Empire from C$30.00 to C$32.00 and gave the company an “outperform” rating in a report on Friday, December 14th.

Shares of EMP.A opened at C$29.69 on Friday. Empire has a 1-year low of C$17.43 and a 1-year high of C$26.34.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Thursday, January 31st will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Monday, January 14th.

About Empire

Empire Company Limited is engaged in the business of food retailing and related real estate. The Company’s segments include Food Retailing, and Investments and Other Operations. The Food Retailing segment consists of its subsidiary, Sobeys Inc, which owns, affiliates or franchises over 1,500 stores in approximately 10 provinces under retail banners that include Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawton’s Drug Stores, as well as more than 350 retail fuel locations.

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Analyst Recommendations for Empire (TSE:EMP.A)

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