Empire Company Limited (TSE:EMP.A) Receives C$38.71 Consensus Target Price from Analysts

Shares of Empire Company Limited (TSE:EMP.A) have received a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$38.71.

Several analysts have commented on EMP.A shares. National Bankshares boosted their price target on shares of Empire from C$40.00 to C$41.00 and gave the stock a “sector perform” rating in a research note on Friday, June 21st. Scotiabank decreased their price target on shares of Empire from C$37.00 to C$36.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Royal Bank of Canada decreased their price target on shares of Empire from C$42.00 to C$41.00 and set a “sector perform” rating on the stock in a research note on Friday, June 21st. BMO Capital Markets decreased their price target on shares of Empire from C$37.00 to C$35.00 in a research note on Friday, March 15th. Finally, Desjardins boosted their price target on shares of Empire from C$38.00 to C$40.00 and gave the stock a “buy” rating in a research note on Monday, June 24th.

Empire Stock Performance

The company has a market cap of C$5.17 billion, a P/E ratio of 11.61, a P/E/G ratio of 16.20 and a beta of 0.46. The company has a debt-to-equity ratio of 133.75, a current ratio of 0.80 and a quick ratio of 0.29. The business has a fifty day moving average price of C$33.29 and a two-hundred day moving average price of C$33.69. Empire has a 1-year low of C$31.45 and a 1-year high of C$40.69.

Empire Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 31st will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, July 15th. This is an increase from Empire’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of ∞. Empire’s dividend payout ratio (DPR) is currently 24.17%.

Insider Activity

In other news, Director William Linton sold 7,058 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of C$34.39, for a total transaction of C$242,690.74. Following the transaction, the director now directly owns 875 shares in the company, valued at C$30,087.05. Insiders own 1.99% of the company’s stock.

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.