Scotiabank Issues Pessimistic Estimate for Empire Earnings

Empire (TSE:EMP) – Analysts at Scotiabank decreased their FY2027 earnings estimates for shares of Empire in a report issued on Thursday, September 10th. Scotiabank analyst J. Zamparo now expects that the company will earn $3.48 per share for the year, down from their previous estimate of $3.58.

Several other equities analysts have also issued reports on the company. TD Securities raised Empire to a “hold” rating in a report on Wednesday, July 29th. BMO Capital Markets raised Empire from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Empire presently has a consensus rating of “Moderate Buy”.

Empire Price Performance

Empire has a 1 year low of C$23.00 and a 1 year high of C$25.49.

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. The Company’s Investments and Other Operations segment includes equity accounted interest in Crombie REIT, which is an open-ended real estate investment trust owning a portfolio of over 260 retail and office properties across Canada, and equity accounted interests in Genstar Development Partnership, Genstar Development Partnership II, GDC Investments 4, L.P., GDC Investments 6, L.P., GDC Investments 7, L.P., GDC Investments 8, L.P.