George Weston (TSE:WN) Announces Quarterly Earnings Results

George Weston (TSE:WN) released its earnings results on Tuesday. The company reported C$0.91 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$14.64 billion for the quarter. George Weston had a return on equity of 21.94% and a net margin of 1.90%.

George Weston Price Performance

Shares of WN traded up C$1.92 during trading hours on Tuesday, hitting C$95.94. The stock had a trading volume of 41,412 shares, compared to its average volume of 339,417. The stock has a market capitalization of C$36.22 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 5.03 and a beta of 0.54. The company has a debt-to-equity ratio of 370.81, a current ratio of 1.10 and a quick ratio of 0.73. The company’s fifty day moving average is C$97.23 and its two-hundred day moving average is C$95.81. George Weston has a 52 week low of C$82.77 and a 52 week high of C$104.50.

Insider Transactions at George Weston

In other news, insider Richard Dufresne sold 6,825 shares of George Weston stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of C$95.07, for a total value of C$648,852.75. Following the completion of the transaction, the insider owned 19,911 shares in the company, valued at approximately C$1,892,938.77. The trade was a 25.53% decrease in their ownership of the stock. Also, Director Willard Galen Garfield Weston sold 21,729 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of C$95.07, for a total value of C$2,065,776.03. Following the completion of the transaction, the director directly owned 85,584 shares in the company, valued at C$8,136,470.88. The trade was a 20.25% decrease in their ownership of the stock. 59.41% of the stock is owned by insiders.

Analysts Set New Price Targets

WN has been the subject of a number of analyst reports. Royal Bank Of Canada raised their price objective on shares of George Weston from C$109.00 to C$115.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. TD Securities upped their price objective on George Weston from C$108.00 to C$121.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, George Weston presently has an average rating of “Moderate Buy” and an average target price of C$109.17.

George Weston Company Profile

George Weston is a holding company that operates through two subsidiaries encompassing retail and real estate. The first is Loblaw, the largest grocer in Canada, in which it has a 53% controlling stake. The second is Choice Properties, an open-ended real estate investment trust, where George Weston’s ownership sits close to 62%. The company sold Weston Foods, a North American bakery, in early 2022, which the firm had previously wholly owned. While the two remaining entities are separate, they operate under a contractual, as well as tacit, framework of strategic business partnerships.