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

Metro Inc. (TSE:MRU)’s stock price 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 stock traded as high as C$88.49 and last traded at C$88.43, with a volume of 21194 shares trading hands. The stock had previously closed at C$87.08.

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

Metro Price Performance

The business’s fifty day moving average is C$84.71 and its 200 day moving average is C$80.80. The company has a current ratio of 1.10, a quick ratio of 0.41 and a debt-to-equity ratio of 64.18. The company has a market cap of C$19.97 billion, a P/E ratio of 21.94, a PEG ratio of 4.06 and a beta of 0.08.

Metro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.335 per share. The ex-dividend date was Thursday, October 24th. This represents a $1.34 annualized dividend and a dividend yield of 1.49%. Metro’s dividend 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.