MTY Food Group (TSE:MTY) Sets New 52-Week High Following Analyst Upgrade

MTY Food Group Inc. (TSE:MTYGet Rating)’s stock price reached a new 52-week high during trading on Tuesday after National Bankshares raised their price target on the stock from C$65.00 to C$67.00. National Bankshares currently has an outperform rating on the stock. MTY Food Group traded as high as C$65.50 and last traded at C$65.37, with a volume of 17578 shares traded. The stock had previously closed at C$64.18.

Other research analysts have also recently issued research reports about the company. Royal Bank of Canada cut their price target on MTY Food Group from C$67.00 to C$59.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 11th. Raymond James lowered their price objective on MTY Food Group from C$68.00 to C$64.00 and set a “market perform” rating for the company in a report on Friday, November 4th. TD Securities lowered their price objective on MTY Food Group from C$70.00 to C$65.00 and set a “hold” rating for the company in a report on Tuesday, October 11th. CIBC lowered their price objective on MTY Food Group from C$75.00 to C$70.00 and set an “outperform” rating for the company in a report on Tuesday, October 11th. Finally, Scotiabank boosted their price objective on MTY Food Group from C$64.00 to C$66.00 in a report on Thursday, November 3rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$66.71.

MTY Food Group Price Performance

The company has a market capitalization of C$1.59 billion and a P/E ratio of 17.27. The company has a fifty day moving average price of C$59.51 and a 200 day moving average price of C$58.38. The company has a debt-to-equity ratio of 105.03, a current ratio of 0.64 and a quick ratio of 0.57.

MTY Food Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, February 3rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, February 2nd. This is an increase from MTY Food Group’s previous quarterly dividend of $0.21. This represents a $1.00 annualized dividend and a dividend yield of 1.54%. MTY Food Group’s payout ratio is currently 21.62%.

MTY Food Group Company Profile

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MTY Food Group Inc franchises and operates quick-service, fast-casual, and casual dining restaurants in Canada, the United States, and internationally. The company also sells retail products under a multitude of banners. As of November 30, 2021, the company had 6,719 locations comprising 6,603 franchised, 23 joint ventures, and 93 corporate locations.

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