Metro (TSE:MRU) Share Price Breaks Below 200 Day Moving Average – Here’s What Happened

Metro Inc. (TSE:MRU) shares crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$91.24 and traded as low as C$88.83. Metro shares last traded at C$89.51, with a volume of 517,882 shares traded.

Wall Street Analyst Weigh In

MRU has been the subject of a number of research reports. National Bank Financial dropped their price target on Metro from C$105.00 to C$102.00 and set a “sector perform” rating for the company in a research note on Thursday, August 13th. TD upped their price target on shares of Metro from C$106.00 to C$108.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. BMO Capital Markets lowered shares of Metro from an “outperform” rating to a “hold” rating and reduced their price objective for the stock from C$105.00 to C$95.00 in a research note on Monday, July 20th. Royal Bank Of Canada cut their price objective on Metro from C$111.00 to C$110.00 and set a “sector perform” rating on the stock in a report on Thursday, August 13th. Finally, TD Securities raised Metro to a “strong-buy” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$102.33.

Metro Stock Down 0.4%

The company has a current ratio of 1.43, a quick ratio of 0.41 and a debt-to-equity ratio of 71.09. The company has a market capitalization of C$18.91 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 4.06 and a beta of 0.12. The firm’s fifty day simple moving average is C$90.01 and its two-hundred day simple moving average is C$91.22.

Metro (TSE:MRU) last announced its earnings results on Wednesday, August 12th. The company reported C$1.24 EPS for the quarter. The company had revenue of C$6.97 billion during the quarter. Metro had a return on equity of 12.87% and a net margin of 4.00%. Sell-side analysts anticipate that Metro Inc. will post 4.8188614 EPS for the current year.

Metro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Tuesday, November 10th will be given a $0.4075 dividend. The ex-dividend date is Thursday, October 22nd. This represents a $1.63 annualized dividend and a yield of 1.8%. Metro’s dividend payout ratio is 36.94%.

Insider Transactions at Metro

In other Metro news, insider Alain Tadros sold 960 shares of Metro stock in a transaction dated Friday, September 4th. The shares were sold at an average price of C$90.27, for a total transaction of C$86,659.20. Following the completion of the transaction, the insider owned 5,952 shares in the company, valued at approximately C$537,287.04. The trade was a 13.89% decrease in their ownership of the stock. Also, insider Simon Rivet sold 2,650 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of C$89.35, for a total transaction of C$236,777.50. Following the transaction, the insider directly owned 20,225 shares of the company’s stock, valued at approximately C$1,807,103.75. This trade represents a 11.58% decrease in their ownership of the stock. Insiders own 0.14% of the company’s stock.

About Metro

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.