MTY Food Group (TSE:MTY) Shares Climb 1.6% After Dividend Announcement

Shares of MTY Food Group Inc. (TSE:MTY) rose 1.6% on Tuesday following a dividend announcement from the company. The stock traded as high as C$33.01 and last traded at C$32.75. 124,139 shares traded hands during trading, an increase of 36% from the average session volume of 91,421 shares. The stock had previously closed at C$32.25.

The newly announced dividend which will be paid on Friday, November 13th. Shareholders of record on Friday, November 13th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Tuesday, November 3rd. This is a boost from MTY Food Group’s previous quarterly dividend of $0.37. MTY Food Group’s payout ratio is currently 30.06%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MTY. Raymond James Financial cut their price target on MTY Food Group from C$40.00 to C$35.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 13th. Royal Bank Of Canada dropped their price objective on shares of MTY Food Group from C$46.00 to C$41.00 and set a “sector perform” rating for the company in a report on Monday, July 13th. Acumen Capital cut their target price on shares of MTY Food Group from C$50.00 to C$48.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Scotia reduced their target price on shares of MTY Food Group from C$45.00 to C$40.00 and set a “sector perform” rating on the stock in a report on Monday, July 13th. Finally, TD Securities upgraded shares of MTY Food Group to a “hold” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, MTY Food Group presently has an average rating of “Hold” and an average price target of C$41.12.

MTY Food Group Stock Performance

The stock has a 50 day moving average of C$32.59 and a 200 day moving average of C$37.12. The company has a quick ratio of 0.56, a current ratio of 0.75 and a debt-to-equity ratio of 117.99. The company has a market capitalization of C$857.68 million, a price-to-earnings ratio of 7.84, a price-to-earnings-growth ratio of 0.75 and a beta of 0.98.

MTY Food Group (TSE:MTY) last released its earnings results on Friday, October 9th. The company reported C$1.26 earnings per share for the quarter. The business had revenue of C$277.73 million during the quarter. MTY Food Group had a net margin of 9.67% and a return on equity of 12.54%. As a group, analysts predict that MTY Food Group Inc. will post 4.49 EPS for the current year.

MTY Food Group Company Profile

MTY Group franchises and operates quick-service, fast casual and casual dining restaurants over 80 different banners in Canada, the US and Internationally. Based in Montreal, MTY is a family whose heart beats to the rhythm of its brands, the very soul of its multi-branded strategy. For over 45 years, it has been increasing its presence by delivering new concepts of restaurants, making acquisitions, and forging strategic alliances, which have allowed it to reach new heights year after year. By combining new trends with operational know-how, the brands forming the MTY Group now touch the lives of millions of people every year.