Scotiabank Cuts MTY Food Group (TSE:MTY) Price Target to C$50.00

MTY Food Group (TSE:MTY) had its price objective decreased by Scotiabank from C$55.00 to C$50.00 in a report published on Monday, BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

Several other equities research analysts have also issued reports on the stock. CIBC decreased their price target on shares of MTY Food Group from C$62.00 to C$53.00 and set an outperform rating for the company in a research note on Monday. TD Securities decreased their price target on shares of MTY Food Group from C$59.00 to C$49.00 and set a hold rating for the company in a research note on Monday. Acumen Capital lifted their price objective on shares of MTY Food Group from C$60.00 to C$75.00 and gave the company a buy rating in a research note on Friday, February 16th. National Bankshares reduced their price objective on shares of MTY Food Group from C$59.00 to C$57.00 and set an outperform rating for the company in a research note on Monday. Finally, Royal Bank of Canada reduced their price objective on shares of MTY Food Group from C$66.00 to C$48.00 and set a sector perform rating for the company in a research note on Friday, February 16th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, MTY Food Group presently has a consensus rating of Hold and a consensus target price of C$54.29.

MTY Food Group Price Performance

Shares of TSE MTY opened at C$46.79 on Monday. MTY Food Group has a fifty-two week low of C$44.48 and a fifty-two week high of C$68.60. The stock has a market cap of C$1.13 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.75 and a beta of 1.98. The company has a debt-to-equity ratio of 154.98, a quick ratio of 0.57 and a current ratio of 0.61. The firm’s 50-day simple moving average is C$51.47 and its 200 day simple moving average is C$53.09.

MTY Food Group (TSE:MTY) last posted its quarterly earnings data on Friday, April 12th. The company reported C$0.71 EPS for the quarter, missing the consensus estimate of C$0.83 by C($0.12). The firm had revenue of C$278.64 million during the quarter, compared to analysts’ expectations of C$263.20 million. MTY Food Group had a net margin of 8.86% and a return on equity of 13.23%. As a group, research analysts anticipate that MTY Food Group will post 4.0429722 earnings per share for the current fiscal year.

MTY Food Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Thursday, May 2nd. MTY Food Group’s dividend payout ratio is currently 24.24%.

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.