Metro (TSE:MRU) Share Price Crosses Below 200 Day Moving Average – Here’s What Happened

Metro Inc. (TSE:MRU)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$95.10 and traded as low as C$92.38. Metro shares last traded at C$94.16, with a volume of 641,688 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Canadian Imperial Bank of Commerce decreased their price objective on shares of Metro from C$101.00 to C$97.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Desjardins reduced their target price on shares of Metro from C$99.00 to C$97.00 and set a “hold” rating on the stock in a research report on Thursday, April 23rd. BMO Capital Markets lowered their price target on shares of Metro from C$110.00 to C$105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Scotia dropped their price objective on shares of Metro from C$103.00 to C$96.00 and set a “sector perform” rating for the company in a research report on Thursday, April 23rd. Finally, National Bank Financial reduced their price objective on Metro from C$106.00 to C$105.00 and set a “sector perform” rating on the stock in a report on Thursday, April 23rd. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Metro currently has an average rating of “Hold” and an average target price of C$103.63.

Metro Stock Performance

The stock has a 50 day moving average price of C$91.16 and a two-hundred day moving average price of C$95.10. The company has a current ratio of 1.43, a quick ratio of 0.41 and a debt-to-equity ratio of 69.30. The company has a market cap of C$19.86 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 4.06 and a beta of 0.19.

Metro (TSE:MRU) last released its earnings results on Wednesday, April 22nd. The company reported C$1.11 earnings per share for the quarter. The firm had revenue of C$5.11 billion for the quarter. Metro had a return on equity of 14.38% and a net margin of 4.52%. Analysts predict that Metro Inc. will post 4.8188614 EPS for the current year.

Metro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, June 2nd were issued a dividend of $0.4075 per share. The ex-dividend date was Wednesday, May 13th. This represents a $1.63 dividend on an annualized basis and a yield of 1.7%. Metro’s payout ratio is currently 32.36%.

About Metro

Metro is one of the largest grocery retailers in Canada. With its 2018 acquisition of Jean Coutu, it also boasts a meaningful drugstore footprint. Noteworthy grocery banners include Metro, Metro Plus, Super C, and Food Basics, while its pharmacies primarily operate under the Jean Coutu and Brunet trademarks. It utilizes an array of business models, but it most frequently acts as either a retailer, operating individual stores, or a franchiser, licensing its trademarks and supplying merchandise to franchisees.