MTY Food Group (TSE:MTY – Free Report) had its price target reduced by Raymond James from C$60.00 to C$55.00 in a report issued on Tuesday morning, BayStreet.CA reports. Raymond James also issued estimates for MTY Food Group’s Q2 2024 earnings at $0.99 EPS, 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.
Several other equities analysts also recently weighed in on the stock. 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 for the company in a report on Monday. CIBC cut their price objective on MTY Food Group from C$62.00 to C$53.00 and set an outperform rating for the company in a research report on Monday. Acumen Capital reduced their target price on MTY Food Group from C$75.00 to C$65.00 and set a buy rating on the stock in a research note on Monday. TD Securities dropped their price target on MTY Food Group from C$59.00 to C$49.00 and set a hold rating for the company in a research report on Monday. Finally, Royal Bank of Canada reduced their price objective on 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of C$54.29.
Read Our Latest Stock Analysis on MTY Food Group
MTY Food Group Stock Performance
MTY Food Group (TSE:MTY – Get Free Report) last posted its earnings results on Friday, April 12th. The company reported C$0.71 earnings per share for the quarter, missing the consensus estimate of C$0.83 by C($0.12). MTY Food Group had a net margin of 8.86% and a return on equity of 13.23%. The firm had revenue of C$278.64 million during the quarter, compared to analyst estimates of C$263.20 million. Sell-side analysts expect that MTY Food Group will post 4.0429722 EPS for the current fiscal year.
MTY Food Group Announces Dividend
The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $1.12 annualized dividend and a yield of 2.40%. MTY Food Group’s dividend payout ratio (DPR) is presently 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.
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