Empire Company Limited (TSE:EMP.A) Receives C$43.14 Consensus Target Price from Analysts

Shares of Empire Company Limited (TSE:EMP.A) have received a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$43.14.

A number of research analysts have issued reports on the stock. CIBC upped their target price on shares of Empire from C$40.00 to C$47.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Desjardins raised their price objective on Empire from C$42.00 to C$44.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Royal Bank of Canada upped their target price on Empire from C$41.00 to C$42.00 and gave the stock a “sector perform” rating in a research report on Friday, September 13th. BMO Capital Markets upped their price objective on shares of Empire from C$40.00 to C$43.00 and gave the company a “market perform” rating in a research report on Friday, September 13th. Finally, National Bankshares raised their price target on shares of Empire from C$42.00 to C$46.00 and gave the stock a “sector perform” rating in a research report on Friday, September 13th.

Insider Activity

In related news, Senior Officer Vivek Sood sold 4,236 shares of Empire stock in a transaction dated Friday, July 19th. The stock was sold at an average price of C$36.17, for a total transaction of C$153,228.83. Following the transaction, the insider now directly owns 381 shares of the company’s stock, valued at C$13,781.91. In other Empire news, Senior Officer Douglas Bigler Nathanson sold 4,525 shares of Empire stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of C$39.66, for a total transaction of C$179,461.50. Also, Senior Officer Vivek Sood sold 4,236 shares of Empire stock in a transaction on Friday, July 19th. The shares were sold at an average price of C$36.17, for a total value of C$153,228.83. Following the transaction, the insider now owns 381 shares in the company, valued at approximately C$13,781.91. Over the last ninety days, insiders have sold 11,761 shares of company stock valued at $441,650. Company insiders own 2.15% of the company’s stock.

Empire Trading Down 1.0 %

TSE:EMP.A opened at C$38.85 on Friday. Empire has a 52-week low of C$31.45 and a 52-week high of C$41.38. The company has a market capitalization of C$5.57 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 16.20 and a beta of 0.47. 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 stock has a fifty day simple moving average of C$37.20 and a 200-day simple moving average of C$34.55.

Empire Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 31st were given a $0.20 dividend. This is a boost 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 yield of 2.06%. Empire’s dividend payout ratio is 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.