Holdings company George Weston (TSE:WN) recently reported Q3 results wherein both the top and bottom lines surpassed estimates.
Consolidated revenues were $17.52 billion, which was up 8.2% year-over-year and 1.7% ahead of consensus estimates. Moreover, earnings per share (EPS) of $3.12 were 28.4% higher than the prior-year quarter figure. The company delivered an earnings surprise of almost 12%.
The company also holds large interests in food retailer Loblaw Companies (TSE:L), whose Q3 report was included in the same print as Weston’s.
“Loblaw Companies Limited (“Loblaw”) delivered positive financial and operating performance as it continued to execute on retail excellence in its core businesses while advancing its growth and efficiencies initiatives, and furthering its Environmental, Social and Governance leadership,” said the press release.
Is WN a Buy?
Wall Street is cautiously optimistic about WN stock, with a Moderate Buy consensus rating based on two Buys and one Hold. The average price target for Weston stock is C$187, which reveals a 13.42% upside over the next 12 months.
