Empire (TSE:EMP.A) Price Target Raised to C$55.00

Empire (TSE:EMP.A) had its target price raised by National Bank Financial from C$54.00 to C$55.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bank Financial’s price objective suggests a potential upside of 11.56% from the stock’s previous close.

Several other equities analysts have also issued reports on EMP.A. Scotiabank lowered Empire from an “outperform” rating to a “sector perform” rating and set a C$52.00 target price for the company. in a report on Thursday, April 9th. Desjardins set a C$53.00 price objective on Empire and gave the company a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$53.00.

Empire Trading Down 0.1%

Shares of TSE:EMP.A traded down C$0.03 during midday trading on Monday, reaching C$49.30. The company’s stock had a trading volume of 96,138 shares, compared to its average volume of 481,484. The firm has a market capitalization of C$11.17 billion, a price-to-earnings ratio of 73.58, a PEG ratio of 16.20 and a beta of -0.20. The company has a debt-to-equity ratio of 135.51, a quick ratio of 0.29 and a current ratio of 0.79. The firm has a 50 day moving average price of C$47.85 and a two-hundred day moving average price of C$48.14. Empire has a fifty-two week low of C$43.81 and a fifty-two week high of C$58.32.

Empire (TSE:EMP.A) last announced its quarterly earnings data on Thursday, March 12th. The company reported C$0.72 earnings per share (EPS) for the quarter. Empire had a return on equity of 12.94% and a net margin of 2.18%.The company had revenue of C$7.89 billion for the quarter. As a group, analysts forecast that Empire will post 2.9581227 earnings per share for the current year.

Empire Company Profile

Empire Co Ltd key businesses are food retailing, investments, and other operations. The food retailing division operates through Empire’s subsidiary Sobeys and represents nearly all of the company’s income. This segment owns, affiliates, or franchises more than 1,500 stores in 10 provinces, under retail banners including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Lawton’s Drug Stores, and multiple retail fuel locations. The company’s investment and other operations segment include the investment in Crombie REIT, which is an open-ended Canadian real estate investment trust, as well as the Genstar Development Partnership.