Acumen Capital Trims MTY Food Group (TSE:MTY) Target Price to C$65.00

MTY Food Group (TSE:MTY) had its target price lowered by Acumen Capital from C$75.00 to C$65.00 in a report released on Monday morning, BayStreet.CA reports. Acumen Capital currently has a buy rating on the stock.

MTY has been the subject of several other reports. 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 report on Monday. National Bankshares decreased their target price 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 report on Monday. Scotiabank cut their price target on shares of MTY Food Group from C$55.00 to C$50.00 and set a sector perform rating on the stock in a report on Monday. Raymond James reduced their price target on MTY Food Group from C$65.00 to C$60.00 and set a market perform rating on the stock in a research report on Friday, February 16th. Finally, Royal Bank of Canada lowered their price objective on MTY Food Group from C$58.00 to C$51.00 and set a sector perform rating for the company in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of C$54.29.

MTY Food Group Stock Performance

Shares of TSE:MTY opened at C$46.61 on Monday. The firm has a 50 day moving average of C$51.26 and a 200 day moving average of C$53.05. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 154.98. The company has a market capitalization of C$1.13 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.75 and a beta of 1.98. MTY Food Group has a 52 week low of C$44.48 and a 52 week high of C$68.60.

MTY Food Group (TSE:MTY) last announced its quarterly earnings results on Friday, April 12th. The company reported C$0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.83 by C($0.12). The company 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%. On average, sell-side analysts predict that MTY Food Group will post 4.0429722 earnings per share for the current fiscal year.

MTY Food Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, May 3rd will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, May 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 2.40%. MTY Food Group’s dividend payout ratio is currently 24.24%.

MTY Food Group Company Profile

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.