Empire Co Cl A NV Receives a Hold from RBC Capital

By Austin Angelo

Wall Street analyst has provided a rating update for the Services sector company on September 14, while remaining neutral on the stock. RBC Capital’s analyst Irene Nattel reiterates their Hold rating on the shares of Empire Co Cl A NV (TSX: EMP.A), with a C$23 price target.

According to TipRanks.com, Nattel is a 3-star analyst with an average return of 3.2% and a 38.6% success rate. Nattel covers the Services sector, focusing on stocks such as Alimentation Couche Tard, Casey’s General, and The Pantry.

Empire Co Cl A NV has an analyst consensus of Moderate Buy, with a price target consensus of C$24.42.

Based on Empire Co Cl A NV’s latest earnings report for the quarter ending April 30, the company posted quarterly revenue of C$5.8 billion and quarterly net profit of C$29.5 million. In comparison, last year the company earned revenue of C$6.19 billion and had a net profit of C$65.4 million.

Empire Co. Ltd. engages in the food retailing and corporate investment activities. It operates through two segments: Food Retailing and Investments and Other Operations. The Food Retailing Segment consists of distribution of food products in Canada.

The company’s shares closed on Friday at C$24.