CIBC Cuts Maple Leaf Foods (TSE:MFI) Price Target to C$31.00

Maple Leaf Foods (TSE:MFI) had its price objective trimmed by CIBC from C$32.00 to C$31.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other research analysts also recently weighed in on MFI. Royal Bank of Canada lowered their target price on Maple Leaf Foods from C$32.00 to C$29.00 and set an outperform rating on the stock in a report on Friday, February 23rd. TD Securities lowered shares of Maple Leaf Foods from an action list buy rating to a buy rating and cut their target price for the company from C$40.00 to C$31.00 in a research report on Friday, February 23rd. National Bankshares set a C$29.00 price target on shares of Maple Leaf Foods and gave the stock an outperform rating in a research report on Monday, April 22nd. Canaccord Genuity Group cut their price objective on shares of Maple Leaf Foods from C$35.00 to C$30.00 and set a buy rating for the company in a research report on Friday, February 23rd. Finally, Scotiabank decreased their target price on Maple Leaf Foods from C$37.50 to C$33.50 and set an outperform rating on the stock in a report on Friday, February 23rd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of Buy and an average price target of C$30.07.

Maple Leaf Foods Stock Down 1.1 %

MFI opened at C$23.46 on Friday. The stock has a market capitalization of C$2.88 billion, a price-to-earnings ratio of -22.78, a PEG ratio of 18.07 and a beta of 0.48. The firm has a 50 day moving average price of C$23.30 and a 200-day moving average price of C$24.71. Maple Leaf Foods has a twelve month low of C$21.52 and a twelve month high of C$31.63. The company has a quick ratio of 0.54, a current ratio of 1.17 and a debt-to-equity ratio of 140.69.

Maple Leaf Foods (TSE:MFI) last announced its earnings results on Thursday, February 22nd. The company reported C$0.08 earnings per share for the quarter. The business had revenue of C$1.19 billion during the quarter. Maple Leaf Foods had a negative net margin of 2.57% and a negative return on equity of 7.86%. Equities research analysts forecast that Maple Leaf Foods will post 0.994288 earnings per share for the current year.

Maple Leaf Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 6th will be paid a $0.22 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.88 dividend on an annualized basis and a yield of 3.75%. Maple Leaf Foods’s payout ratio is presently -85.44%.

Maple Leaf Foods Company Profile

Maple Leaf Foods Inc produces food products in the United States, Canada, Japan, China, and internationally. The company operates through Meat Protein Group and Plant Protein Group segments. It produces various food products, including prepared meats, ready-to-cook and ready-to-serve meals, fresh pork and poultry, and plant protein products; bacon, hams, wieners, and meat snacks; a variety of delicatessen products; and processed chicken products, such as fully cooked chicken breasts and wings, processed turkey products, specialty sausages, cooked meats, sliced meats, cooked sausage products, lunch kits, and canned meats.