Empire (TSE:EMP.A) had its price target lowered by National Bank Financial from C$31.00 to C$30.00 in a research note issued to investors on Friday, September 14th. The firm currently has an outperform rating on the stock.
Several other equities analysts have also recently issued reports on EMP.A. Royal Bank of Canada raised their price target on Empire from C$26.00 to C$29.00 and gave the company a sector perform rating in a report on Friday, June 29th. TD Securities increased their target price on Empire from C$27.00 to C$29.00 in a research note on Friday, June 29th. Raymond James increased their target price on Empire from C$26.00 to C$28.00 and gave the company a market perform rating in a research note on Friday, June 29th. Finally, Barclays increased their target price on Empire from C$29.00 to C$30.00 in a research note on Monday, June 25th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of C$29.57.
Shares of EMP.A stock traded down C$0.19 during trading hours on Friday, hitting C$22.90. 342,557 shares of the company’s stock were exchanged, compared to its average volume of 314,151. Empire has a 52 week low of C$17.43 and a 52 week high of C$26.34.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 31st will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $0.44 annualized dividend and a dividend yield of 1.92%.
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.
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