Analysts Set Empire Company Limited (TSE:EMP.A) PT at C$38.71

Shares of Empire Company Limited (TSE:EMP.A) have earned an average rating of “Hold” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is C$38.71.

EMP.A has been the subject of a number of recent analyst reports. National Bankshares lifted their target price on Empire from C$40.00 to C$41.00 and gave the company a “sector perform” rating in a report on Friday, June 21st. Desjardins lifted their target price on Empire from C$38.00 to C$40.00 and gave the company a “buy” rating in a report on Monday, June 24th. TD Securities lifted their target price on Empire from C$36.00 to C$38.00 and gave the company a “hold” rating in a report on Monday, June 24th. Finally, Royal Bank of Canada reduced their target price on Empire from C$42.00 to C$41.00 and set a “sector perform” rating for the company in a report on Friday, June 21st.

Insider Buying and Selling

In related news, Senior Officer Pierre St-Laurent sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of C$36.32, for a total value of C$108,960.00. In other Empire news, Senior Officer Vivek Sood sold 4,236 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of C$36.17, for a total value of C$153,228.83. Following the completion of the sale, the insider now owns 381 shares in the company, valued at C$13,781.91. Also, Senior Officer Pierre St-Laurent sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of C$36.32, for a total value of C$108,960.00. Insiders sold 14,294 shares of company stock worth $504,880 in the last quarter. 2.13% of the stock is owned by insiders.

Empire Stock Up 0.6 %

EMP.A stock opened at C$38.25 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 0.80 and a debt-to-equity ratio of 134.59. The firm has a market capitalization of C$5.49 billion, a PE ratio of 13.10, a PEG ratio of 16.20 and a beta of 0.47. Empire has a twelve month low of C$31.45 and a twelve month high of C$40.69. The stock has a 50-day simple moving average of C$36.03 and a two-hundred day simple moving average of C$34.12.

Empire Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.20 per share. This is a positive change from Empire’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, July 15th. This represents a $0.80 annualized dividend and a dividend yield of 2.09%. Empire’s payout ratio is presently 27.40%.

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.