TD Securities Trims MTY Food Group (TSE:MTY) Target Price to C$49.00

MTY Food Group (TSE:MTY) had its target price cut by TD Securities from C$59.00 to C$49.00 in a research note issued to investors on Monday, BayStreet.CA reports. They currently have a hold rating on the stock.

A number of other equities research analysts have also recently issued reports on MTY. Raymond James decreased their price objective on shares of MTY Food Group from C$65.00 to C$60.00 and set a market perform rating for the company in a report on Friday, February 16th. CIBC cut their price objective on shares of MTY Food Group from C$71.00 to C$62.00 and set an outperform rating for the company in a research report on Tuesday, February 20th. Royal Bank of Canada dropped their price target on shares of MTY Food Group from C$66.00 to C$48.00 and set a sector perform rating for the company in a research report on Friday, February 16th. Scotiabank decreased their price objective on shares of MTY Food Group from C$62.00 to C$55.00 and set a sector perform rating on the stock in a research note on Friday, February 16th. Finally, National Bankshares decreased their price objective on shares of MTY Food Group from C$59.00 to C$57.00 and set an outperform rating on the stock in a research note on Monday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of C$54.29.

MTY Food Group Price Performance

Shares of TSE:MTY opened at C$46.79 on Monday. The stock has a market cap of C$1.13 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.75 and a beta of 1.98. MTY Food Group has a 12 month low of C$44.48 and a 12 month high of C$68.60. The stock’s 50 day moving average price is C$51.47 and its 200 day moving average price is C$53.09. The company has a debt-to-equity ratio of 154.98, a current ratio of 0.61 and a quick ratio of 0.57.

MTY Food Group (TSE:MTY) last posted its quarterly earnings results on Friday, April 12th. The company reported C$0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.83 by C($0.12). MTY Food Group had a net margin of 8.86% and a return on equity of 13.23%. The company had revenue of C$278.64 million during the quarter, compared to the consensus estimate of C$263.20 million. Equities research analysts anticipate that MTY Food Group will post 4.0429722 earnings per share for the current fiscal year.

MTY Food Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, May 3rd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $1.12 annualized dividend and a yield of 2.39%. MTY Food Group’s dividend payout ratio is currently 24.24%.

About MTY Food Group

MTY Food Group Inc operates and franchises quick-service, fast-casual, and casual dining restaurants in Canada, the United States, and internationally. It also sells retail products under a multitude of banners. The company was formerly known as iNsu Innovations Group Inc and changed its name to MTY Food Group Inc in July 2003.