Desjardins Weighs in on Metro Inc.’s Q2 2024 Earnings (TSE:MRU)

Metro Inc. (TSE:MRU) – Desjardins decreased their Q2 2024 earnings estimates for shares of Metro in a report issued on Monday, April 22nd. Desjardins analyst C. Li now expects that the company will post earnings per share of $0.88 for the quarter, down from their previous estimate of $0.90. Desjardins has a “Hold” rating and a $75.00 price objective on the stock. The consensus estimate for Metro’s current full-year earnings is $4.26 per share. Desjardins also issued estimates for Metro’s Q3 2024 earnings at $1.39 EPS.

Several other equities analysts have also weighed in on MRU. TD Securities raised their price objective on shares of Metro from C$78.00 to C$80.00 in a research report on Thursday. BMO Capital Markets raised their target price on shares of Metro from C$73.00 to C$75.00 in a report on Wednesday, January 31st. National Bankshares raised their target price on shares of Metro from C$80.00 to C$82.00 and gave the stock a “sector perform” rating in a report on Thursday. Royal Bank of Canada decreased their target price on shares of Metro from C$83.00 to C$82.00 and set a “sector perform” rating for the company in a report on Wednesday, January 31st. Finally, CIBC increased their price target on shares of Metro from C$76.00 to C$77.00 and gave the stock a “neutral” rating in a research report on Thursday. Seven investment 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 an average target price of C$77.86.

Metro Stock Performance

TSE:MRU opened at C$70.95 on Wednesday. Metro has a twelve month low of C$65.43 and a twelve month high of C$78.88. The company has a current ratio of 1.16, a quick ratio of 0.41 and a debt-to-equity ratio of 65.71. The company has a 50-day moving average of C$72.19 and a 200-day moving average of C$70.61. The firm has a market cap of C$16.11 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 2.12 and a beta of 0.04.

Metro (TSE:MRU) last released its earnings results on Wednesday, April 24th. The company reported C$0.91 EPS for the quarter, meeting the consensus estimate of C$0.91. The firm 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 12th were given a $0.335 dividend. This is a positive change from Metro’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 14th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.89%. Metro’s dividend payout ratio (DPR) is currently 30.66%.

About Metro

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.