CIBC Forecasts Strong Price Appreciation for Metro (TSE:MRU) Stock

Metro (TSE:MRU) had its target price lifted by CIBC from C$86.00 to C$91.00 in a research report released on Thursday morning,BayStreet.CA reports.

Several other equities analysts have also recently issued reports on MRU. Desjardins boosted their target price on Metro from C$75.00 to C$80.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. National Bankshares boosted their target price on Metro from C$85.00 to C$88.00 in a research note on Thursday, August 15th. Cfra boosted their target price on Metro from C$76.00 to C$85.00 in a research note on Thursday, August 15th. Royal Bank of Canada boosted their target price on Metro from C$84.00 to C$90.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, BMO Capital Markets upped their price target on Metro from C$82.00 to C$85.00 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$87.50.

Metro Stock Performance

Shares of MRU stock opened at C$89.73 on Thursday. The company has a debt-to-equity ratio of 64.18, a quick ratio of 0.41 and a current ratio of 1.10. Metro has a fifty-two week low of C$65.43 and a fifty-two week high of C$90.72. The stock has a 50 day moving average price of C$84.71 and a two-hundred day moving average price of C$80.91. The company has a market capitalization 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 Announces Dividend

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