Empire (TSE:EMP) Upgraded at Cibc World Mkts

Cibc World Mkts upgraded shares of Empire (TSE:EMP) to a strong-buy rating in a report released on Friday morning, Zacks.com reports.

Empire Stock Performance

Empire has a fifty-two week low of C$23.00 and a fifty-two week high of C$25.49.

Empire (TSE:EMP) last issued its quarterly earnings data on Thursday, September 12th. The company reported C$0.90 earnings per share for the quarter, topping the consensus estimate of C$0.88 by C$0.02. The firm had revenue of C$8.14 billion for the quarter, compared to the consensus estimate of C$8.07 billion.

Empire Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be given a $0.20 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $0.80 annualized dividend and a yield of ∞.

Empire Company Profile

Empire Company Limited is engaged in the business of food retailing and related real estate. The Company’s segments include Food Retailing, and Investments and Other Operations. The Food Retailing segment consists of its subsidiary, Sobeys Inc, which owns, affiliates or franchises over 1,500 stores in approximately 10 provinces under retail banners that include Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawton’s Drug Stores, as well as more than 350 retail fuel locations.