Empire Company Limited (EMP.A) Receives Average Recommendation of “Buy” from Analysts

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Empire Company Limited (TSE:EMP.A) has been assigned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is C$29.88.

Several equities analysts have issued reports on the stock. Royal Bank of Canada upped their target price on shares of Empire from C$26.00 to C$29.00 and gave the company a “sector perform” rating in a research note on Friday, June 29th. TD Securities upped their target price on shares of Empire from C$27.00 to C$29.00 in a research note on Friday, June 29th. Raymond James upped their target price on shares of 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. National Bank Financial upped their target price on shares of Empire from C$30.00 to C$31.00 and gave the company an “outperform” rating in a research note on Friday, June 29th. Finally, Barclays upped their target price on shares of Empire from C$29.00 to C$30.00 in a research note on Monday, June 25th.

EMP.A stock traded down C$0.25 during trading on Tuesday, hitting C$25.32. 397,957 shares of the stock traded hands, compared to its average volume of 314,151. Empire has a 1 year low of C$17.43 and a 1 year high of C$26.34.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 31st. Shareholders of record on Tuesday, July 31st were issued a dividend of $0.11 per share. This is a positive change from Empire’s previous quarterly dividend of $0.11. This represents a $0.44 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Thursday, July 12th.

About Empire

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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Analyst Recommendations for Empire (TSE:EMP.A)

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