Maple Leaf Foods Inc. (TSE:MFI) Plans $0.22 Quarterly Dividend

Maple Leaf Foods Inc. (TSE:MFI) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Thursday, June 6th will be given a dividend of 0.22 per share on Friday, June 28th. This represents a $0.88 annualized dividend and a yield of 3.71%. The ex-dividend date is Thursday, June 6th.

Maple Leaf Foods Stock Performance

Maple Leaf Foods stock traded up C$0.34 during trading hours on Friday, hitting C$23.73. The stock had a trading volume of 168,225 shares, compared to its average volume of 174,546. The company has a 50-day moving average of C$23.29 and a two-hundred day moving average of C$24.72. The company has a quick ratio of 0.54, a current ratio of 1.17 and a debt-to-equity ratio of 140.69. The company has a market cap of C$2.91 billion, a PE ratio of -23.04, a price-to-earnings-growth ratio of 18.07 and a beta of 0.48. Maple Leaf Foods has a fifty-two week low of C$21.52 and a fifty-two week high of C$31.63.

Maple Leaf Foods (TSE:MFI) last released its quarterly earnings data on Thursday, February 22nd. The company reported C$0.08 earnings per share for the quarter. Maple Leaf Foods had a negative return on equity of 7.86% and a negative net margin of 2.57%. The company had revenue of C$1.19 billion for the quarter. On average, equities research analysts anticipate that Maple Leaf Foods will post 0.994288 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MFI shares. Royal Bank of Canada lowered their price objective on Maple Leaf Foods from C$32.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Friday, February 23rd. Canaccord Genuity Group dropped their price objective on Maple Leaf Foods from C$35.00 to C$30.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. TD Securities cut Maple Leaf Foods from an “action list buy” rating to a “buy” rating and lowered their target price for the stock from C$40.00 to C$31.00 in a report on Friday, February 23rd. CIBC lowered their target price on Maple Leaf Foods from C$32.00 to C$31.00 and set an “outperform” rating for the company in a report on Friday. Finally, BMO Capital Markets lowered their target price on Maple Leaf Foods from C$31.00 to C$29.00 in a report on Friday, February 23rd. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$30.07.

Maple Leaf Foods Company Profile

Maple Leaf Foods Inc produces food products in the United States, Canada, Japan, China, and internationally. The company operates through Meat Protein Group and Plant Protein Group segments. It produces various food products, including prepared meats, ready-to-cook and ready-to-serve meals, fresh pork and poultry, and plant protein products; bacon, hams, wieners, and meat snacks; a variety of delicatessen products; and processed chicken products, such as fully cooked chicken breasts and wings, processed turkey products, specialty sausages, cooked meats, sliced meats, cooked sausage products, lunch kits, and canned meats.