FY2024 EPS Estimates for MTY Food Group Inc. (TSE:MTY) Reduced by Analyst

MTY Food Group Inc. (TSE:MTY) – Equities research analysts at National Bank Financial lowered their FY2024 EPS estimates for MTY Food Group in a research report issued to clients and investors on Wednesday, September 25th. National Bank Financial analyst V. Shreedhar now expects that the company will earn $3.54 per share for the year, down from their previous estimate of $3.56. The consensus estimate for MTY Food Group’s current full-year earnings is $4.29 per share.

MTY Food Group (TSE:MTY) last released its quarterly earnings results on Thursday, July 11th. The company reported C$1.13 EPS for the quarter, topping the consensus estimate of C$0.99 by C$0.14. MTY Food Group had a return on equity of 12.52% and a net margin of 8.61%. The business had revenue of C$303.74 million during the quarter, compared to analysts’ expectations of C$294.10 million.

A number of other brokerages have also issued reports on MTY. Royal Bank of Canada boosted their price target on shares of MTY Food Group from C$51.00 to C$53.00 in a research note on Friday, July 12th. National Bankshares boosted their target price on MTY Food Group from C$53.00 to C$54.00 in a research report on Thursday, September 26th. Finally, TD Securities raised their price target on MTY Food Group from C$49.00 to C$51.00 in a report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, MTY Food Group currently has an average rating of “Hold” and an average price target of C$54.43.

MTY Food Group Stock Performance

Shares of MTY opened at C$46.18 on Monday. The stock has a market capitalization of C$1.10 billion, a P/E ratio of 11.26, a P/E/G ratio of 0.75 and a beta of 1.95. The company has a debt-to-equity ratio of 149.81, a quick ratio of 0.57 and a current ratio of 0.64. MTY Food Group has a 1 year low of C$40.45 and a 1 year high of C$60.10. The company’s fifty day moving average is C$43.95 and its two-hundred day moving average is C$45.89.

MTY Food Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.43%. The ex-dividend date was Friday, August 2nd. MTY Food Group’s dividend payout ratio (DPR) is 27.32%.

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.