Metro (TSE:MRU) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Metro Inc. (TSE:MRU) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$78.63 and traded as high as C$84.22. Metro shares last traded at C$84.12, with a volume of 271,754 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Cfra boosted their price target on shares of Metro from C$76.00 to C$85.00 in a report on Thursday, August 15th. BMO Capital Markets boosted their price objective on shares of Metro from C$82.00 to C$85.00 in a research report on Thursday, August 15th. CIBC boosted their price objective on shares of Metro from C$77.00 to C$86.00 in a research report on Thursday, August 15th. Desjardins boosted their price objective on shares of Metro from C$75.00 to C$80.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. Finally, TD Securities upgraded shares of Metro from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$80.00 to C$92.00 in a research report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Metro has an average rating of “Hold” and a consensus target price of C$84.25.

Metro Stock Performance

The firm has a market capitalization of C$18.32 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 4.06 and a beta of 0.08. The company has a debt-to-equity ratio of 64.18, a quick ratio of 0.41 and a current ratio of 1.10. The company’s fifty day moving average price is C$84.51 and its two-hundred day moving average price is C$78.66.

Metro (TSE:MRU) last posted its quarterly earnings results on Wednesday, August 14th. The company reported C$1.35 EPS for the quarter, meeting the consensus estimate of C$1.35. Metro had a net margin of 4.36% and a return on equity of 13.74%. The firm had revenue of C$6.65 billion for the quarter, compared to analyst estimates of C$6.58 billion. As a group, equities analysts expect that Metro Inc. will post 4.7186459 earnings per share for the current year.

Metro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 12th will be given a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 1.63%. The ex-dividend date is Thursday, October 24th. Metro’s dividend payout ratio (DPR) is 32.76%.

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.