Scotiabank Issues Pessimistic Forecast for Metro (TSE:MRU) Stock Price

Metro (TSE:MRU) had its price objective reduced by equities research analysts at Scotiabank from C$110.00 to C$103.00 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 12.93% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada lifted their price objective on shares of Metro from C$112.00 to C$113.00 and gave the company a “sector perform” rating in a report on Friday, January 23rd. TD Securities cut their price target on shares of Metro from C$118.00 to C$113.00 and set a “buy” rating on the stock in a research note on Wednesday. Desjardins cut their target price on shares of Metro from C$105.00 to C$99.00 and set a “hold” rating on the stock in a report on Wednesday. BMO Capital Markets decreased their price objective on Metro from C$115.00 to C$110.00 in a research report on Monday, November 3rd. Finally, National Bankshares lowered their target price on shares of Metro from C$107.00 to C$106.00 and set a “sector perform” rating on the stock in a report on Wednesday. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$106.25.

Metro Price Performance

Shares of TSE:MRU traded down C$1.72 during trading on Wednesday, reaching C$91.21. The stock had a trading volume of 454,399 shares, compared to its average volume of 458,201. The business has a fifty day moving average price of C$98.85 and a 200-day moving average price of C$98.27. The stock has a market cap of C$19.50 billion, a PE ratio of 19.70, a PEG ratio of 4.06 and a beta of 0.11. The company has a debt-to-equity ratio of 62.29, a quick ratio of 0.41 and a current ratio of 1.35. Metro has a 1-year low of C$89.13 and a 1-year high of C$109.20.

Metro (TSE:MRU) last announced its quarterly earnings data on Tuesday, January 27th. The company reported C$1.16 EPS for the quarter. Metro had a return on equity of 13.80% and a net margin of 4.50%.The firm had revenue of C$5.29 billion for the quarter. On average, equities analysts forecast that Metro will post 4.8188614 earnings per share for the current fiscal year.

Metro Company Profile

Metro is one of the largest grocery retailers in Canada. With its 2018 acquisition of Jean Coutu, it also boasts a meaningful drugstore footprint. Noteworthy grocery banners include Metro, Metro Plus, Super C, and Food Basics, while its pharmacies primarily operate under the Jean Coutu and Brunet trademarks. It utilizes an array of business models, but it most frequently acts as either a retailer, operating individual stores, or a franchiser, licensing its trademarks and supplying merchandise to franchisees.