Empire Company Limited (TSE:EMP.A – Get Rating) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$39.14 and traded as high as C$43.48. Empire shares last traded at C$43.45, with a volume of 257,593 shares changing hands.
Several research firms have recently commented on EMP.A. TD Securities boosted their price objective on Empire from C$44.00 to C$50.00 and gave the company a “buy” rating in a report on Friday, March 11th. BMO Capital Markets boosted their price objective on Empire from C$41.00 to C$46.00 in a report on Friday, March 11th. Royal Bank of Canada boosted their price objective on Empire from C$46.00 to C$48.00 and gave the company a “sector perform” rating in a report on Friday, March 11th. Scotiabank lifted their target price on Empire from C$48.00 to C$50.00 in a research report on Friday, March 11th. Finally, CIBC lifted their target price on Empire from C$49.00 to C$50.00 and gave the company an “outperform” rating in a research report on Friday, March 11th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$47.40.
The company has a 50-day simple moving average of C$40.11 and a two-hundred day simple moving average of C$39.14. The company has a quick ratio of 0.43, a current ratio of 0.86 and a debt-to-equity ratio of 152.06. The firm has a market cap of C$11.41 billion and a PE ratio of 15.69.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 28th. Shareholders of record on Friday, January 28th were given a $0.15 dividend. The ex-dividend date was Thursday, January 13th. This represents a $0.60 annualized dividend and a yield of 1.38%. Empire’s dividend payout ratio is currently 20.94%.
About Empire (TSE:EMP.A)
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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