Morgan Stanley Lowers Safeway Earnings Estimates (SWY)

By admin | 6 years ago

Equities researchers at Morgan Stanley (NYSE: MS) cut their earnings per share (EPS) estimates on shares of Safeway (NYSE: SWY) in a report issued on Friday. The firm currently has an “equal weight” rating on the company’s shares.

Shares of Safeway traded down 0.29% during mid-day trading on Friday, hitting $18.915. Safeway has a 52 week low of $15.93 and a 52 week high of $25.43. The company has a market cap of $4.547 billion and a P/E ratio of 10.85.

Safeway last announced its earnings results on Thursday, April 26th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts predict that Safeway will post $0.46 earnings per share next quarter.

Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Safeway in a research note to investors on Friday, May 4th. They now have a $21.00 price target on the stock. Separately, analysts at Goldman Sachs (NYSE: GS) raised their price target on shares of Safeway from $18.00 to $18.50 in a research note to investors on Friday, April 27th. They now have a “sell” rating on the stock. Finally, analysts at Barclays Capital (NYSE: BCS) reiterated an “equal weight” rating on shares of Safeway in a research note to investors on Monday, April 23rd.

Safeway Inc. (Safeway) is a food and drug retailer in North America. As of September 11, 2010, the Company operated 1,702 stores in the Western, Southwestern, Rocky Mountain, Midwestern and Mid-Atlantic regions of the United States and in Western Canada.

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