Royal Bank of Canada Cuts MTY Food Group (TSE:MTY) Price Target to C$51.00

MTY Food Group (TSE:MTY) had its price target lowered by Royal Bank of Canada from C$58.00 to C$51.00 in a research note published on Monday, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Other equities analysts have also issued research reports about the company. Acumen Capital raised their price objective on MTY Food Group from C$60.00 to C$75.00 and gave the stock a buy rating in a report on Friday, February 16th. CIBC dropped their price target on MTY Food Group from C$62.00 to C$53.00 and set an outperform rating on the stock in a research report on Monday. Scotiabank dropped their price target on MTY Food Group from C$55.00 to C$50.00 and set a sector perform rating on the stock in a research report on Monday. National Bankshares dropped their price target on MTY Food Group from C$59.00 to C$57.00 and set an outperform rating on the stock in a research report on Monday. Finally, TD Securities lowered their price objective on MTY Food Group from C$59.00 to C$49.00 and set a hold rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of C$54.29.

MTY Food Group Stock Down 0.4 %

TSE:MTY opened at C$46.79 on Monday. The stock has a market capitalization of C$1.13 billion, a price-to-earnings ratio of 11.01, 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 has a 52 week low of C$44.48 and a 52 week high of C$68.60. The stock’s fifty day moving average is C$51.47 and its two-hundred day moving average is C$53.09.

MTY Food Group (TSE:MTY) last announced its quarterly earnings data on Friday, April 12th. The company reported C$0.71 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Research analysts anticipate that MTY Food Group will post 4.0429722 EPS for the current year.

MTY Food Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, May 3rd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Thursday, May 2nd. MTY Food Group’s payout ratio is currently 24.24%.

About MTY Food Group

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.