Metro (TSE:MRU) Sets New 1-Year High – Here’s What Happened

Metro Inc. (TSE:MRU) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$91.84 and last traded at C$91.81, with a volume of 23254 shares changing hands. The stock had previously closed at C$91.17.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. BMO Capital Markets lifted their price target on Metro from C$82.00 to C$85.00 in a research report on Thursday, August 15th. Royal Bank of Canada lowered Metro from a “moderate buy” rating to a “hold” rating in a report on Thursday, November 21st. Cfra raised their price target on Metro from C$76.00 to C$85.00 in a research report on Thursday, August 15th. Desjardins boosted their price objective on shares of Metro from C$85.00 to C$95.00 in a research report on Friday, November 22nd. Finally, CIBC lifted their price target on shares of Metro from C$86.00 to C$91.00 in a research note on Thursday, November 21st. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Metro has an average rating of “Hold” and a consensus target price of C$87.50.

Metro Trading Up 1.4 %

The company has a debt-to-equity ratio of 64.18, a current ratio of 1.10 and a quick ratio of 0.41. The firm has a market capitalization of C$20.58 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 4.06 and a beta of 0.08. The stock’s 50-day moving average price is C$84.90 and its 200 day moving average price is C$81.15.

Metro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Thursday, October 24th. Metro’s dividend payout ratio (DPR) is presently 32.76%.

About Metro

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.