Metro Inc. (TSE:MRU) Forecasted to Post Q3 2024 Earnings of $1.38 Per Share

Metro Inc. (TSE:MRU) – Equities researchers at National Bank Financial increased their Q3 2024 earnings estimates for Metro in a note issued to investors on Wednesday, April 24th. National Bank Financial analyst V. Shreedhar now anticipates that the company will post earnings per share of $1.38 for the quarter, up from their prior estimate of $1.36. The consensus estimate for Metro’s current full-year earnings is $4.26 per share. National Bank Financial also issued estimates for Metro’s Q4 2024 earnings at $0.98 EPS.

Other equities analysts have also recently issued reports about the stock. TD Securities lifted their target price on shares of Metro from C$78.00 to C$80.00 in a report on Thursday, April 25th. CIBC boosted their price objective on shares of Metro from C$76.00 to C$77.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Desjardins boosted their price objective on shares of Metro from C$74.00 to C$75.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. 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 research note on Wednesday, January 31st. Finally, Scotiabank dropped their price objective 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, April 22nd. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$77.86.

Metro Stock Performance

Shares of Metro stock opened at C$70.42 on Monday. The firm’s fifty day simple moving average is C$72.17 and its 200-day simple moving average is C$70.57. The stock has a market capitalization of C$15.99 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 2.12 and a beta of 0.04. Metro has a 12 month low of C$65.43 and a 12 month high of C$78.88. 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 (TSE:MRU) last announced its earnings results on Wednesday, April 24th. The company reported C$0.91 EPS for the quarter, meeting analysts’ consensus estimates of C$0.91. The business had revenue of C$4.66 billion for the quarter, compared to analysts’ expectations of C$4.63 billion. Metro had a net margin of 4.81% and a return on equity of 15.00%.

Metro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Wednesday, May 15th will be given a $0.335 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.34 annualized dividend and a dividend yield of 1.90%. Metro’s dividend payout ratio is presently 30.66%.

Metro Company Profile

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.