MTY Food Group Inc. to Post Q2 2024 Earnings of $0.99 Per Share, Raymond James Forecasts (TSE:MTY)

MTY Food Group Inc. (TSE:MTY) – Analysts at Raymond James lowered their Q2 2024 earnings estimates for shares of MTY Food Group in a note issued to investors on Monday, April 15th. Raymond James analyst M. Glen now anticipates that the company will post earnings per share of $0.99 for the quarter, down from their previous forecast of $1.10. The consensus estimate for MTY Food Group’s current full-year earnings is $4.04 per share. Raymond James also issued estimates for MTY Food Group’s Q3 2024 earnings at $1.05 EPS, Q4 2024 earnings at $0.80 EPS, FY2024 earnings at $3.56 EPS and FY2025 earnings at $4.30 EPS.

A number of other equities research analysts have also commented on MTY. Acumen Capital reduced their price target on MTY Food Group from C$75.00 to C$65.00 and set a “buy” rating on the stock in a research report on Monday. Scotiabank dropped their target price on shares of MTY Food Group from C$55.00 to C$50.00 and set a “sector perform” rating on the stock in a report on Monday. National Bankshares lowered their price objective on MTY Food Group from C$59.00 to C$57.00 and set an “outperform” rating for the company in a research report on Monday. TD Securities decreased their price target on shares of MTY Food Group from C$59.00 to C$49.00 and set a “hold” rating for the company in a research note on Monday. Finally, Royal Bank of Canada cut their price objective on shares of MTY Food Group from C$58.00 to C$51.00 and set a “sector perform” rating on the stock in a research report on Monday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, MTY Food Group currently has a consensus rating of “Hold” and a consensus price target of C$54.29.

MTY Food Group Price Performance

Shares of MTY Food Group stock opened at C$46.98 on Tuesday. The company has a 50-day simple moving average of C$51.68 and a two-hundred day simple moving average of C$53.17. MTY Food Group has a twelve month low of C$44.48 and a twelve month high of C$68.60. The stock has a market capitalization of C$1.14 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 0.75 and a beta of 1.98. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 154.98.

MTY Food Group (TSE:MTY) last announced its quarterly earnings results on Friday, April 12th. The company reported C$0.71 EPS for the quarter, missing analysts’ consensus estimates of C$0.83 by C($0.12). The company had revenue of C$278.64 million during the quarter, compared to analyst estimates of C$263.20 million. MTY Food Group had a net margin of 8.86% and a return on equity of 13.23%.

MTY Food Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, May 3rd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.38%. The ex-dividend date is Thursday, May 2nd. MTY Food Group’s dividend payout ratio (DPR) is 24.24%.

MTY Food Group Company Profile

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.