BMO Capital Markets Cuts Empire (TSE:EMP.A) Price Target to C$35.00

Empire (TSE:EMP.AFree Report) had its price objective decreased by BMO Capital Markets from C$37.00 to C$35.00 in a research report sent to investors on Friday, BayStreet.CA reports.

Several other equities research analysts have also recently weighed in on EMP.A. Scotiabank reduced their price target on Empire from C$43.00 to C$39.00 and set an outperform rating on the stock in a research note on Friday, December 15th. National Bankshares cut their price target on shares of Empire from C$41.00 to C$40.00 in a report on Friday. CIBC decreased their price objective on shares of Empire from C$42.00 to C$40.00 in a research report on Friday, March 1st. Royal Bank of Canada dropped their price objective on shares of Empire from C$49.00 to C$43.00 and set a sector perform rating on the stock in a research note on Friday. Finally, Desjardins reduced their price target on Empire from C$40.00 to C$39.00 and set a buy rating on the stock in a report on Wednesday, March 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Empire currently has a consensus rating of Hold and a consensus target price of C$38.86.

View Our Latest Analysis on EMP.A

Empire Stock Performance

TSE:EMP.A opened at C$32.70 on Friday. The business has a 50 day moving average of C$34.61 and a 200 day moving average of C$36.15. The company has a market capitalization of C$4.77 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 16.20 and a beta of 0.47. Empire has a 1-year low of C$32.12 and a 1-year high of C$40.69. The company has a debt-to-equity ratio of 130.52, a current ratio of 0.83 and a quick ratio of 0.29.

Empire Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Wednesday, January 31st were issued a dividend of $0.1825 per share. This represents a $0.73 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, January 12th. Empire’s dividend payout ratio is presently 24.66%.

Insiders Place Their Bets

In related news, Director William Linton acquired 875 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The stock was purchased at an average price of C$34.43 per share, for a total transaction of C$30,126.25. 1.94% of the stock is currently owned by company insiders.

About Empire

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Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,500 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawtons Drugs; and approximately 350 retail fuel locations.

See Also

Analyst Recommendations for Empire (TSE:EMP.A)

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