In a new note to investors yesterday, an analyst has provided a rating update for the Consumer Goods sector company, Empire Co Cl A NV (EMP.A – Research Report). Analyst Chris Li CFA from Desjardins remains bullish on the stock and has a C$41.00 price target.
According to TipRanks.com, CFA is a 3-star analyst with an average return of 3.7% and a 61.5% success rate. CFA covers the NA sector, focusing on stocks such as Gildan Activewear, Canadian Tire, and Dollarama.
Currently, the analyst consensus on Empire Co Cl A NV is a Moderate Buy with an average price target of C$44.50.
Based on Empire Co Cl A NV’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of C$7.49 billion and net profit of C$126 million. In comparison, last year the company earned revenue of C$7.4 billion and had a net profit of C$208 million.
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. The company’s investment and other operations segment include the investment in Crombie REIT, which is an open-ended Canadian real estate investment trust, as well as the Genstar Development Partnership.
The company’s shares closed last Friday at C$34.84.
