Metro (TSE:MRU) Hits New 1-Year High After Analyst Upgrade

Shares of Metro Inc. (TSE:MRU) hit a new 52-week high during trading on Thursday after Desjardins raised their price target on the stock from C$85.00 to C$95.00. The company traded as high as C$88.49 and last traded at C$88.43, with a volume of 21194 shares traded. The stock had previously closed at C$87.08.

Other research analysts also recently issued research reports about the stock. CIBC upped their price target on shares of Metro from C$86.00 to C$91.00 in a research report on Thursday. Royal Bank of Canada raised their price target on shares of Metro from C$84.00 to C$90.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. National Bankshares boosted their price objective on shares of Metro from C$85.00 to C$88.00 in a research report on Thursday, August 15th. Cfra increased their price objective on Metro from C$76.00 to C$85.00 in a research report on Thursday, August 15th. Finally, BMO Capital Markets boosted their target price on Metro from C$82.00 to C$85.00 in a research report on Thursday, August 15th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$87.50.

Metro Stock Up 0.8 %

The company has a debt-to-equity ratio of 64.18, a current ratio of 1.10 and a quick ratio of 0.41. The stock has a market cap of C$19.97 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 4.06 and a beta of 0.08. The firm has a 50 day simple moving average of C$84.71 and a two-hundred day simple moving average of C$80.80.

Metro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Tuesday, November 12th were paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 1.49%. The ex-dividend date was Thursday, October 24th. Metro’s payout ratio is 32.76%.

About Metro

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.