MTY Food Group (TSE:MTY) PT Lowered to C$55.00 at Raymond James

MTY Food Group (TSE:MTY) had its price objective lowered by Raymond James from C$60.00 to C$55.00 in a report published on Tuesday, BayStreet.CA reports. Raymond James also issued estimates for MTY Food Group’s Q2 2024 earnings at $0.99 EPS, Q3 2024 earnings at $1.05 EPS, Q4 2024 earnings at $0.80 EPS, FY2024 earnings at $3.56 EPS and FY2025 earnings at $4.30 EPS.

Several other analysts have also recently commented on MTY. CIBC decreased their price target on shares of MTY Food Group from C$62.00 to C$53.00 and set an outperform rating on the stock in a research note on Monday. Scotiabank decreased their price objective on MTY Food Group from C$55.00 to C$50.00 and set a sector perform rating on the stock in a research report on Monday. National Bankshares lowered their target price on MTY Food Group from C$59.00 to C$57.00 and set an outperform rating for the company in a research note on Monday. Royal Bank of Canada cut their price target on MTY Food Group from C$58.00 to C$51.00 and set a sector perform rating on the stock in a research note on Monday. Finally, TD Securities lowered their price objective on MTY Food Group from C$59.00 to C$49.00 and set a hold rating for the company in a research report on Monday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of C$54.29.

MTY Food Group Price Performance

MTY Food Group stock opened at C$46.61 on Tuesday. The business’s fifty day moving average is C$51.26 and its two-hundred day moving average is C$53.05. The company has a debt-to-equity ratio of 154.98, a quick ratio of 0.57 and a current ratio of 0.61. The firm has a market cap of C$1.13 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.75 and a beta of 1.98. MTY Food Group has a 52 week low of C$44.48 and a 52 week high of C$68.60.

MTY Food Group (TSE:MTY) last issued its quarterly earnings results on Friday, April 12th. The company reported C$0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.83 by C($0.12). MTY Food Group had a return on equity of 13.23% and a net margin of 8.86%. The company had revenue of C$278.64 million for the quarter, compared to analyst estimates of C$263.20 million. Equities research analysts forecast that MTY Food Group will post 4.0429722 earnings per share for the current fiscal year.

MTY Food Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, May 3rd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.40%. MTY Food Group’s dividend payout ratio (DPR) is presently 24.24%.

About MTY Food Group

MTY Food Group Inc operates and franchises quick-service, fast-casual, and casual dining restaurants in Canada, the United States, and internationally. It also sells retail products under a multitude of banners. The company was formerly known as iNsu Innovations Group Inc and changed its name to MTY Food Group Inc in July 2003.