Loblaw Companies (TSE:L) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Loblaw Companies Limited (TSE:L)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$61.54 and traded as high as C$62.32. Loblaw Companies shares last traded at C$61.02, with a volume of 1,149,280 shares.

Analyst Upgrades and Downgrades

L has been the subject of several recent analyst reports. Royal Bank Of Canada increased their price objective on Loblaw Companies from C$68.00 to C$72.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. National Bank Financial increased their price objective on Loblaw Companies from C$62.00 to C$66.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Scotiabank lowered Loblaw Companies from an “outperform” rating to a “hold” rating and set a C$70.00 price objective for the company. in a research note on Thursday, April 9th. TD Securities increased their price objective on Loblaw Companies from C$65.00 to C$75.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Finally, Desjardins increased their price objective on Loblaw Companies from C$67.00 to C$70.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$92.63.

Loblaw Companies Stock Up 0.3%

The firm has a fifty day moving average price of C$64.18 and a 200 day moving average price of C$61.59. The company has a quick ratio of 0.68, a current ratio of 1.08 and a debt-to-equity ratio of 227.92. The company has a market cap of C$71.71 billion, a P/E ratio of 27.56, a PEG ratio of 3.23 and a beta of 0.30.

Loblaw Companies (TSE:L) last announced its earnings results on Wednesday, February 25th. The company reported C$0.67 EPS for the quarter. The company had revenue of C$15.70 billion for the quarter. Loblaw Companies had a return on equity of 24.03% and a net margin of 4.17%. Equities research analysts forecast that Loblaw Companies Limited will post 9.1225541 earnings per share for the current year.

Loblaw Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, April 1st were issued a dividend of $0.1411 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, March 13th. Loblaw Companies’s dividend payout ratio is presently 24.84%.

About Loblaw Companies

Loblaw is one of Canada’s largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart. The firm carries a robust private-label assortment, with top sellers like President’s Choice and No Name. In addition to its retail operations, Loblaw oversees a financial-services business, which provides credit card services and guaranteed investment certificates, and also operates its PC Optimum loyalty program.