Empire Company Limited (TSE:EMP.A) Given Average Rating of “Hold” by Brokerages

Shares of Empire Company Limited (TSE:EMP.A) have received an average recommendation of “Hold” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. Four research 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 brokerages that have updated their coverage on the stock in the last year is C$48.57.

Several research analysts have weighed in on EMP.A shares. Desjardins upped their price objective on shares of Empire from C$47.00 to C$50.00 in a research note on Sunday, December 15th. CIBC lifted their price objective on Empire from C$47.00 to C$55.00 in a research report on Friday, December 13th. National Bankshares upped their target price on 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. Scotiabank lifted their price target on Empire from C$44.00 to C$47.00 in a report on Friday, December 13th. Finally, BMO Capital Markets increased their price objective on Empire from C$44.00 to C$48.00 in a report on Friday, December 13th.

Insiders Place Their Bets

In related news, Senior Officer Pierre St-Laurent sold 4,850 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of C$41.21, for a total transaction of C$199,868.50. Also, Senior Officer Matthew Reindel sold 4,587 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$43.81, for a total value of C$200,956.47. Insiders sold 101,004 shares of company stock valued at $4,505,138 over the last 90 days. 2.18% of the stock is currently owned by company insiders.

Empire Price Performance

Shares of EMP.A opened at C$44.00 on Tuesday. The business’s 50-day moving average is C$42.06 and its 200-day moving average is C$38.49. The company has a debt-to-equity ratio of 135.51, a current ratio of 0.79 and a quick ratio of 0.29. The company has a market capitalization of C$6.18 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 16.20 and a beta of 0.48. Empire has a fifty-two week low of C$31.45 and a fifty-two week high of C$46.77.

Empire Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 31st were issued a $0.20 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $0.80 annualized dividend and a yield of 1.82%. Empire’s dividend payout ratio (DPR) is currently 29.20%.

Empire Company Profile

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.