National Bank Financial upgraded shares of MTY Food Group (TSE:MTY) from a sector perform under weight rating to an outperfrom under weight rating in a research note released on Wednesday morning.

Separately, TD Securities lifted their price target on shares of MTY Food Group from C$56.00 to C$58.00 and gave the company a hold rating in a research report on Wednesday, September 5th.

Shares of MTY opened at C$67.94 on Wednesday. MTY Food Group has a 1-year low of C$44.97 and a 1-year high of C$68.85.

MTY Food Group (TSE:MTY) last announced its quarterly earnings results on Wednesday, July 11th. The company reported C$0.79 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.69 by C$0.10. MTY Food Group had a net margin of 27.97% and a return on equity of 24.30%. The business had revenue of C$89.83 million during the quarter, compared to analysts’ expectations of C$90.50 million.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, November 5th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Friday, November 2nd.

About MTY Food Group

MTY Food Group Inc franchises and operates quick-service restaurants in Canada and internationally. It also operates a distribution center and a food processing plant. As of November 30, 2017, the company had 5,469 locations comprising 5,402 franchised and 67 company operated locations. The company was formerly known as iNsu Innovations Group Inc and changed its name to MTY Food Group Inc in July 2003.

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