Empire (TSE:EMP) Upgraded by Cibc World Mkts to Strong-Buy

Cibc World Mkts upgraded shares of Empire (TSE:EMP) to a strong-buy rating in a report issued on Friday, Zacks.com reports.

Empire Stock Performance

Empire has a fifty-two week low of C$23.00 and a fifty-two week high of C$25.49.

Empire (TSE:EMP) last released its quarterly earnings results on Thursday, September 12th. The company reported C$0.90 EPS for the quarter, topping the consensus estimate of C$0.88 by C$0.02. The company had revenue of C$8.14 billion for the quarter, compared to analyst estimates of C$8.07 billion.

Empire Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of ∞. The ex-dividend date of this dividend is Tuesday, October 15th.

Empire Company Profile

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.