MTY Food Group (TSE:MTY) Price Target Cut to C$51.00 by Analysts at Royal Bank of Canada

MTY Food Group (TSE:MTY) had its price objective lowered by Royal Bank of Canada from C$58.00 to C$51.00 in a research report released on Monday, BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

A number of other analysts have also recently issued reports on the company. CIBC lowered their price objective on MTY Food Group from C$62.00 to C$53.00 and set an outperform rating on the stock in a research report on Monday. TD Securities decreased their price target on MTY Food Group from C$59.00 to C$49.00 and set a hold rating on the stock in a research report on Monday. Acumen Capital lifted their price objective on MTY Food Group from C$60.00 to C$75.00 and gave the company a buy rating in a research report on Friday, February 16th. Raymond James lowered their target price on MTY Food Group from C$65.00 to C$60.00 and set a market perform rating for the company 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 report on Monday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of C$54.29.

MTY Food Group Stock Performance

Shares of MTY opened at C$46.61 on Monday. The company has a debt-to-equity ratio of 154.98, a current ratio of 0.61 and a quick ratio of 0.57. The company’s fifty day moving average price is C$51.26 and its 200 day moving average price is C$53.05. The company has a market capitalization of C$1.13 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 0.75 and a beta of 1.98. MTY Food Group has a one year low of C$44.48 and a one year high of C$68.60.

MTY Food Group (TSE:MTY) last posted its quarterly earnings data on Friday, April 12th. The company reported C$0.71 earnings per share 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 business had revenue of C$278.64 million during the quarter, compared to the consensus estimate of C$263.20 million. As a group, analysts expect that MTY Food Group will post 4.0429722 earnings per share for the current year.

MTY Food Group Dividend Announcement

The company also recently declared 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. This represents a $1.12 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, May 2nd. MTY Food Group’s dividend payout ratio is 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.