Metro (TSE:MRU) Given New C$86.00 Price Target at CIBC

Metro (TSE:MRU) had its price objective lifted by CIBC from C$77.00 to C$86.00 in a report released on Thursday morning, BayStreet.CA reports.

A number of other analysts have also weighed in on MRU. TD Securities raised shares of Metro from a hold rating to a buy rating and upped their price target for the stock from C$80.00 to C$92.00 in a research note on Monday, July 22nd. Scotiabank decreased their price target on Metro from C$74.50 to C$74.00 and set a sector perform rating for the company in a research report on Monday, April 22nd. Desjardins increased their target price on Metro from C$75.00 to C$80.00 and gave the company a hold rating in a report on Tuesday. BMO Capital Markets lifted their price target on Metro from C$75.00 to C$83.00 and gave the company a market perform rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada upped their target price on Metro from C$82.00 to C$84.00 in a report on Friday, July 12th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of C$84.25.

Metro Stock Performance

Metro stock traded down C$0.42 during mid-day trading on Thursday, hitting C$83.73. 78,147 shares of the company’s stock traded hands, compared to its average volume of 430,436. The company has a quick ratio of 0.41, a current ratio of 1.12 and a debt-to-equity ratio of 64.39. Metro has a one year low of C$65.43 and a one year high of C$84.78. The firm has a 50 day moving average price of C$78.43 and a 200 day moving average price of C$74.38. The company has a market cap of C$18.89 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 2.12 and a beta of 0.05.

Metro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Thursday, September 5th will be paid a dividend of $0.335 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.34 annualized dividend and a yield of 1.60%. Metro’s payout ratio is 31.38%.

Metro Company Profile

Metro Inc, through its subsidiaries, operates as a retailer, franchisor, distributor, and manufacturer in the food and pharmaceutical sectors in Canada. The company operates supermarkets, discount, neighborhood, and specialty stores that provide fresh and grocery products, baked goods, prepared food products, meats, dairy products, fruits and vegetables, frozen food products, bakery products, delicatessen items, and pastries.