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.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MRU. National Bankshares raised their target price on Metro from C$85.00 to C$88.00 in a research note on Thursday, August 15th. Royal Bank of Canada raised their target price on Metro from C$82.00 to C$84.00 in a research note on Friday, July 12th. TD Securities upgraded Metro from a “hold” rating to a “buy” rating and raised their target price for the company from C$80.00 to C$92.00 in a research note on Monday, July 22nd. CIBC raised their target price on Metro from C$77.00 to C$86.00 in a research note on Thursday, August 15th. Finally, Desjardins lifted their price objective on shares of Metro from C$75.00 to C$80.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$84.25.

Metro Trading Down 1.6 %

The business’s 50 day moving average is C$84.51 and its two-hundred day moving average is C$78.66. The company has a quick ratio of 0.41, a current ratio of 1.10 and a debt-to-equity ratio of 64.18. The firm has a market capitalization of C$18.32 billion, a P/E ratio of 20.12, a PEG ratio of 4.06 and a beta of 0.08.

Metro (TSE:MRU) last issued its quarterly earnings results on Wednesday, August 14th. The company reported C$1.35 EPS for the quarter, hitting 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 analysts’ expectations of C$6.58 billion. Analysts expect that Metro Inc. will post 4.7186459 EPS for the current year.

Metro Announces Dividend

The firm also recently declared 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 of this dividend is Thursday, October 24th. Metro’s dividend payout ratio (DPR) is presently 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.