Empire Company Limited (TSE:EMP.A) Given Consensus Rating of “Buy” by Analysts

Shares of Empire Company Limited (TSE:EMP.A) have been assigned a consensus recommendation of “Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$45.44.

A number of equities analysts recently issued reports on the company. CIBC upped their price target on Empire from C$45.00 to C$46.00 and gave the company an “outperform” rating in a report on Thursday, June 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a C$45.00 price target on shares of Empire in a report on Thursday, June 24th. National Bank Financial upped their price target on Empire from C$44.00 to C$46.00 and gave the company an “outperform” rating in a report on Wednesday, June 16th. National Bankshares boosted their price objective on Empire from C$44.00 to C$46.00 and gave the company an “outperform” rating in a research note on Wednesday, June 16th. Finally, BMO Capital Markets reduced their price objective on Empire from C$47.00 to C$45.00 and set a “market perform” rating for the company in a research note on Thursday, June 24th.

EMP.A traded up C$0.12 on Thursday, reaching C$39.89. The company’s stock had a trading volume of 304,357 shares, compared to its average volume of 526,459. The business has a 50 day simple moving average of C$40.57. The company has a quick ratio of 0.46, a current ratio of 0.92 and a debt-to-equity ratio of 158.59. The company has a market capitalization of C$10.67 billion and a P/E ratio of 15.35. Empire has a fifty-two week low of C$32.63 and a fifty-two week high of C$42.93.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Friday, July 30th will be given a $0.15 dividend. This is a boost from Empire’s previous quarterly dividend of $0.13. The ex-dividend date is Wednesday, July 14th. This represents a $0.60 annualized dividend and a yield of 1.50%. Empire’s dividend payout ratio is presently 20.00%.

In other Empire news, Senior Officer Vivek Sood sold 2,777 shares of the stock in a transaction on Thursday, July 15th. The stock was sold at an average price of C$39.59, for a total value of C$109,941.43. Following the completion of the transaction, the insider now owns 12,723 shares in the company, valued at C$503,703.57.

About Empire

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.

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Analyst Recommendations for Empire (TSE:EMP.A)

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