Metro (TSE:MRU) Stock Price Passes Below 200-Day Moving Average – Here’s Why

Metro Inc. (TSE:MRU)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$93.78 and traded as low as C$92.31. Metro shares last traded at C$93.30, with a volume of 311,043 shares traded.

Analyst Ratings Changes

Several research firms recently weighed in on MRU. BMO Capital Markets cut their target price on shares of Metro from C$110.00 to C$105.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. National Bank Financial set a C$105.00 price target on shares of Metro and gave the stock a “sector perform” rating in a research note on Tuesday, June 30th. Canadian Imperial Bank of Commerce dropped their price objective on shares of Metro from C$101.00 to C$97.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Scotia cut their price objective on Metro from C$103.00 to C$96.00 and set a “sector perform” rating for the company in a research report on Thursday, April 23rd. Finally, Scotiabank cut Metro from an “outperform” rating to a “hold” rating and set a C$103.00 target price on the stock. in a report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$103.62.

Metro Stock Down 0.1%

The company has a debt-to-equity ratio of 69.30, a quick ratio of 0.41 and a current ratio of 1.43. The firm has a market capitalization of C$19.83 billion, a PE ratio of 20.05, a PEG ratio of 4.06 and a beta of 0.16. The company has a fifty day moving average price of C$90.89 and a 200-day moving average price of C$93.75.

Metro (TSE:MRU) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported C$1.11 earnings per share for the quarter. Metro had a net margin of 4.52% and a return on equity of 14.38%. The company had revenue of C$5.11 billion for the quarter. As a group, analysts expect that Metro Inc. will post 4.8188614 earnings per share for the current year.

Metro Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, June 2nd were given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Wednesday, May 13th. Metro’s dividend payout ratio is currently 32.36%.

Metro Company Profile

With annual sales of more than $22 billion, METRO Inc is a food and pharmacy leader in Québec and Ontario, providing employment to more than 97,000 people. Its purpose is to Nourish the health and well-being of our communities. As a retailer, franchisor, distributor, manufacturer, and provider of eCommerce services, the company operates or services a network of some 1,000 food stores under several banners including Metro, Metro Plus, Super C, Food Basics, Adonis and Première Moisson, and some 640 pharmacies primarily under the Jean Coutu, Brunet, Metro Pharmacy and Food Basics Pharmacy banners.