Empire Company Limited (EMP.A) Given Consensus Recommendation of “Hold” by Brokerages
Empire Company Limited (TSE:EMP.A) has been given a consensus recommendation of “Buy” by the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is C$32.19.
Several equities research analysts have weighed in on the company. Raymond James reissued a “market perform” rating and set a C$31.00 price objective on shares of Empire in a research note on Wednesday, March 6th. BMO Capital Markets upped their target price on Empire from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Thursday, March 14th. National Bank Financial upped their target price on Empire from C$33.00 to C$34.00 and gave the company an “outperform” rating in a research note on Thursday, March 14th. Finally, Desjardins cut Empire from a “buy” rating to a “hold” rating and cut their target price for the company from C$32.00 to C$30.50 in a research note on Tuesday, March 12th.
TSE EMP.A traded up C$0.32 during trading hours on Thursday, hitting C$31.41. 105,095 shares of the company were exchanged, compared to its average volume of 314,151. The company has a debt-to-equity ratio of 41.48, a current ratio of 1.12 and a quick ratio of 0.47. Empire has a 52 week low of C$17.43 and a 52 week high of C$26.34. The stock has a market capitalization of $5.45 billion and a P/E ratio of 25.98.
Empire Company Profile
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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