Metro (TSE:MRU) Shares Pass Above 200-Day Moving Average of $76.73

Metro Inc. (TSE:MRU)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$76.73 and traded as high as C$85.31. Metro shares last traded at C$83.65, with a volume of 561,780 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. BMO Capital Markets raised their price target on Metro from C$82.00 to C$85.00 in a report on Thursday, August 15th. Cfra boosted their target price on Metro from C$76.00 to C$85.00 in a report on Thursday, August 15th. Desjardins upped their price target on Metro from C$75.00 to C$80.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. CIBC lifted their price objective on shares of Metro from C$77.00 to C$86.00 in a research report on Thursday, August 15th. Finally, National Bankshares boosted their price objective on shares of Metro from C$85.00 to C$88.00 in a research note on Thursday, August 15th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$84.25.

Metro Price Performance

The stock has a fifty day moving average of C$82.99 and a two-hundred day moving average of C$76.80. The stock has a market cap of C$18.48 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 2.12 and a beta of 0.08. The company has a quick ratio of 0.41, a current ratio of 1.10 and a debt-to-equity ratio of 64.18.

Metro (TSE:MRU) last posted its quarterly earnings results on Wednesday, August 14th. The company reported C$1.35 earnings per share for the quarter, hitting analysts’ consensus estimates of C$1.35. The business had revenue of C$6.65 billion for the quarter, compared to analysts’ expectations of C$6.58 billion. Metro had a net margin of 4.36% and a return on equity of 13.74%.

Metro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, September 24th will be given a dividend of $0.335 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.34 annualized dividend and a yield of 1.61%. Metro’s payout ratio is currently 32.76%.

Metro Company Profile

Metro Inc, through its subsidiaries, operates as a retailer, franchisor, distributor, and manufacturer in the food and pharmaceutical sectors in Canada. The company operates supermarkets, discount, neighborhood, and specialty stores that provide fresh and grocery products, baked goods, prepared food products, meats, dairy products, fruits and vegetables, frozen food products, bakery products, delicatessen items, and pastries.