MTY Food Group (TSE:MTY) Price Target Cut to C$57.00

MTY Food Group (TSE:MTY) had its target price trimmed by National Bankshares from C$59.00 to C$57.00 in a report released on Monday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other brokerages also recently weighed in on MTY. CIBC reduced their target price on shares of MTY Food Group from C$71.00 to C$62.00 and set an outperform rating on the stock in a research note on Tuesday, February 20th. Scotiabank decreased their price target on shares of MTY Food Group from C$62.00 to C$55.00 and set a sector perform rating for the company in a research note on Friday, February 16th. Acumen Capital raised their price target on MTY Food Group from C$60.00 to C$75.00 and gave the company a buy rating in a research note on Friday, February 16th. TD Securities reduced their price objective on shares of MTY Food Group from C$65.00 to C$60.00 and set a hold rating for the company in a research note on Friday, February 16th. Finally, Raymond James lowered their price target on shares of MTY Food Group from C$65.00 to C$60.00 and set a market perform rating on the stock in a report on Friday, February 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of C$54.29.

MTY Food Group Trading Down 0.4 %

MTY Food Group stock opened at C$46.61 on Monday. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 154.98. MTY Food Group has a 12-month low of C$44.48 and a 12-month high of C$68.60. The firm has a 50 day moving average of C$51.26 and a 200 day moving average of C$53.05. The firm has a market capitalization of C$1.13 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 0.75 and a beta of 1.98.

MTY Food Group (TSE:MTY) last issued its earnings results on Friday, April 12th. The company reported C$0.71 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.83 by C($0.12). MTY Food Group had a return on equity of 13.23% and a net margin of 8.86%. The company had revenue of C$278.64 million for the quarter, compared to the consensus estimate of C$263.20 million. As a group, research analysts predict that MTY Food Group will post 4.0429722 earnings per share for the current year.

MTY Food Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, May 3rd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.40%. The ex-dividend date is Thursday, May 2nd. MTY Food Group’s dividend payout ratio is currently 24.24%.

About MTY Food Group

MTY Food Group Inc operates and franchises quick-service, fast-casual, and casual dining restaurants in Canada, the United States, and internationally. It also sells retail products under a multitude of banners. The company was formerly known as iNsu Innovations Group Inc and changed its name to MTY Food Group Inc in July 2003.