Empire Company Limited (TSE:EMP.A – Get Free Report) has earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$42.29.
Several equities analysts have weighed in on the stock. CIBC lifted their price objective on shares of Empire from C$43.00 to C$44.00 in a research report on Friday. BMO Capital Markets set a C$39.00 price objective on shares of Empire and gave the stock a “market perform” rating in a research report on Friday. National Bankshares lifted their target price on shares of Empire from C$42.00 to C$44.00 in a research note on Friday. Scotiabank lifted their target price on shares of Empire from C$42.50 to C$43.00 in a research note on Friday. Finally, TD Securities lifted their target price on shares of Empire from C$42.00 to C$43.00 and gave the company a “buy” rating in a research note on Friday.
Get Our Latest Stock Report on Empire
Empire Trading Up 1.2 %
Empire Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Monday, July 31st were issued a $0.1825 dividend. This represents a $0.73 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, July 13th. This is an increase from Empire’s previous quarterly dividend of $0.17. Empire’s dividend payout ratio (DPR) is 27.65%.
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.
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