TD Issues Positive Forecast for Empire (TSE:EMP.A) Stock Price

Empire (TSE:EMP.A) had its price target boosted by investment analysts at TD from C$50.00 to C$53.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD’s target price suggests a potential upside of 2.85% from the stock’s previous close.

EMP.A has been the subject of several other research reports. Scotiabank lowered Empire from an “outperform” rating to a “sector perform” rating and set a C$52.00 price objective for the company. in a report on Thursday, April 9th. Desjardins set a C$53.00 price objective on shares of Empire and gave the company a “buy” rating in a report on Monday. National Bank Financial raised their price objective on Empire from C$54.00 to C$55.00 and gave the company a “sector perform” rating in a research note on Monday. Canadian Imperial Bank of Commerce upped their price objective on Empire from C$54.00 to C$58.00 and gave the company an “outperformer” rating in a research report on Friday. Finally, Royal Bank Of Canada lifted their price target on shares of Empire from C$55.00 to C$58.00 and gave the company a “sector perform” rating in a research note on Friday. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Empire presently has a consensus rating of “Hold” and a consensus target price of C$54.14.

Empire Trading Up 0.5%

Empire stock traded up C$0.28 during trading hours on Friday, reaching C$51.53. The stock had a trading volume of 119,605 shares, compared to its average volume of 479,892. The company has a fifty day simple moving average of C$47.81 and a 200-day simple moving average of C$48.08. Empire has a 52 week low of C$43.81 and a 52 week high of C$58.32. The stock has a market cap of C$11.68 billion, a PE ratio of 76.91, a PEG ratio of 16.20 and a beta of -0.20. The company has a debt-to-equity ratio of 135.51, a current ratio of 0.79 and a quick ratio of 0.29.

Empire (TSE:EMP.A) last issued its quarterly earnings data on Thursday, June 18th. The company reported C$0.94 earnings per share (EPS) for the quarter. The business had revenue of C$7.81 billion for the quarter. Empire had a net margin of 2.18% and a return on equity of 12.94%. Analysts forecast that Empire will post 2.9581227 EPS for the current fiscal 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.