Loblaw Companies Ltd <L.TO>: Profits of C$1.96 per share anticipated for third quarter

14 November 2022 02:57 p.m. All figures in Canadian dollars. Loblaw Companies (TSX:L) Ltd is expected to show an increase in its third quarter earnings to C$1.96​ per share according to the mean Refinitiv estimate from eight analysts. Wall Street expects results to range from C$1.89 to ​C$2.01 per share. RECOMMENDATIONS * The consensus recommendation for the company is "Buy". This includes one "Strong Buy", six "Buy", three "Hold", * The average consensus recommendation for the food retail & distribution peer group is also "Buy". FORECAST CHANGES * Eight analysts are currently providing Refinitiv with estimates. * In the last week three analysts have revised earnings estimates upward and there have been no negative earnings revisions. There were no changes to the number of estimates. * In the last four weeks the earnings per share estimate has risen by 2.28 percent from C$1.91. Estimates ranged from a high of C$2.01 to a low of C$1.81. There has been no changes to the number of estimates. * The StarMine predicted earnings surprise is too low to be considered statistically significant. Predicted revenue surprise is too low to be significant. * The average price target from the eight analysts providing estimates is C$132.2. YEAR OVER YEAR * The company is expected to report a rise in revenue to C$16.85 billion from C$16.05 billion in the same quarter last year. * The current quarter consensus estimate of C$1.96 per share implies a gain of 22.96 percent from the same quarter last year when the company reported C$1.59 per share. * Previous quarterly performance (using preferred earnings measure) QUARTER ENDING ESTIMATE ACTUAL BEAT, MET, MISSED Jun. 30 2022 1.61 1.69 Beat Mar. 31 2022 1.32 1.36 Beat Dec. 31 2021 1.36 1.52 Beat Sep. 30 2021 1.48 1.59 Beat This summary was machine generated from Refinitiv data November 14 at 02:57 p.m..

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