Desjardins Weighs in on Metro Inc.’s Q2 2024 Earnings (TSE:MRU)

Metro Inc. (TSE:MRU) – Analysts at Desjardins reduced their Q2 2024 earnings estimates for Metro in a research note issued to investors on Monday, April 22nd. Desjardins analyst C. Li now forecasts that the company will post earnings of $0.88 per share for the quarter, down from their previous estimate of $0.90. Desjardins currently has a “Hold” rating and a $75.00 target price on the stock. The consensus estimate for Metro’s current full-year earnings is $4.26 per share. Desjardins also issued estimates for Metro’s Q3 2024 earnings at $1.39 EPS.

MRU has been the topic of a number of other reports. Royal Bank of Canada dropped their price objective on shares of Metro from C$83.00 to C$82.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 31st. CIBC upped their price target on shares of Metro from C$76.00 to C$77.00 and gave the company a “neutral” rating in a report on Thursday. National Bankshares increased their target price on shares of Metro from C$80.00 to C$82.00 and gave the stock a “sector perform” rating in a research note on Thursday. Scotiabank lowered their target price on shares of Metro from C$74.50 to C$74.00 and set a “sector perform” rating on the stock in a research note on Monday. Finally, TD Securities upped their price target on shares of Metro from C$78.00 to C$80.00 in a research report on Thursday. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Metro presently has a consensus rating of “Hold” and a consensus target price of C$77.86.

Metro Price Performance

Shares of MRU opened at C$70.95 on Wednesday. The firm has a market capitalization of C$16.11 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 2.12 and a beta of 0.04. The company has a debt-to-equity ratio of 65.71, a current ratio of 1.16 and a quick ratio of 0.41. Metro has a 1-year low of C$65.43 and a 1-year high of C$78.88. The company’s fifty day moving average price is C$72.19 and its 200-day moving average price is C$70.61.

Metro (TSE:MRU) last issued its quarterly earnings results on Wednesday, April 24th. The company reported C$0.91 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C$0.91. The business had revenue of C$4.66 billion for the quarter, compared to the consensus estimate of C$4.63 billion. Metro had a return on equity of 15.00% and a net margin of 4.81%.

Metro Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.335 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.89%. This is an increase from Metro’s previous quarterly dividend of $0.30. Metro’s dividend payout ratio (DPR) is currently 30.66%.

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.