Desjardins Has Lowered Expectations for Empire (TSE:EMP.A) Stock Price

by · The Markets Daily

Empire (TSE:EMP.A – Get Free Report) had its target price lowered by investment analysts at Desjardins from C$60.00 to C$53.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price target would suggest a potential upside of 14.00% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. CIBC cut their target price on shares of Empire from C$59.00 to C$53.00 and set an “outperform” rating on the stock in a report on Friday. Scotiabank dropped their price target on Empire from C$57.00 to C$52.00 and set an “outperform” rating on the stock in a report on Friday. Finally, National Bankshares decreased their price objective on shares of Empire from C$58.00 to C$54.00 and set a “sector perform” rating for the company in a research note on Friday. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$53.00.

View Our Latest Stock Analysis on EMP.A

Empire Stock Performance

Shares of EMP.A traded down C$0.03 during mid-day trading on Friday, hitting C$46.49. The stock had a trading volume of 345,642 shares, compared to its average volume of 438,427. The company has a quick ratio of 0.29, a current ratio of 0.79 and a debt-to-equity ratio of 135.51. The company has a market cap of C$10.73 billion, a PE ratio of 15.60, a PEG ratio of 16.20 and a beta of 0.08. Empire has a fifty-two week low of C$40.33 and a fifty-two week high of C$58.32. The company’s fifty day simple moving average is C$49.73 and its two-hundred day simple moving average is C$52.30.

Empire (TSE:EMP.A – Get Free Report) last released its quarterly earnings data on Thursday, December 11th. The company reported C$0.69 EPS for the quarter. The firm had revenue of C$8 billion during the quarter. Empire had a net margin of 2.18% and a return on equity of 12.94%. On average, equities analysts expect that Empire will post 2.9581227 earnings per share for the current year.

About Empire

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Empire Co Ltd key businesses are food retailing, investments, and other operations. The food retailing division operates through Empire’s subsidiary Sobeys and represents nearly all of the company’s income. This segment owns, affiliates, or franchises more than 1,500 stores in 10 provinces, under retail banners including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Lawton’s Drug Stores, and multiple retail fuel locations.

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