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Empire Co Cl A NV ( ($TSE:EMP.A) ) has issued an update.
Sobeys Inc., a subsidiary of Empire Company Limited, has announced a $300 million note offering with a 3.10% interest rate due in 2028. The proceeds from this offering will be used to repay existing debt and for general corporate purposes. The notes have received provisional ratings of ‘BBB’ from Morningstar DBRS and ‘BBB-‘ from S&P Global Ratings. This move marks Sobeys’ re-entry into the debt capital market, potentially strengthening its financial position and providing flexibility for future operations.
The most recent analyst rating on ($TSE:EMP.A) stock is a Buy with a C$55.00 price target. To see the full list of analyst forecasts on Empire Co Cl A NV stock, see the TSE:EMP.A Stock Forecast page.
Spark’s Take on TSE:EMP.A Stock
According to Spark, TipRanks’ AI Analyst, TSE:EMP.A is a Outperform.
Empire Co Cl A NV’s strong financial performance and positive earnings call sentiment are the most significant factors contributing to the score. However, technical indicators suggest bearish momentum, and the valuation is not particularly compelling. The company’s focus on expansion and technology initiatives provides a positive outlook, but challenges in profitability and cash flow need addressing.
To see Spark’s full report on TSE:EMP.A stock, click here.
More about Empire Co Cl A NV
Empire Company Limited, headquartered in Stellarton, Nova Scotia, is a Canadian company primarily involved in food retailing through its wholly-owned subsidiary Sobeys Inc., and related real estate. With annual sales of approximately $31 billion and assets worth $17 billion, Empire and its subsidiaries, franchisees, and affiliates employ around 129,000 people. Sobeys Inc. is one of Canada’s two national grocery retailers, operating about 1,600 stores across all 10 provinces under various retail banners.
Average Trading Volume: 405,088
Technical Sentiment Signal: Buy
Current Market Cap: C$11.21B
For detailed information about EMP.A stock, go to TipRanks’ Stock Analysis page.