Q3 2024 Earnings Estimate for Metro Inc. Issued By Desjardins (TSE:MRU)

Metro Inc. (TSE:MRU) – Equities researchers at Desjardins cut their Q3 2024 earnings per share (EPS) estimates for shares of Metro in a report issued on Wednesday, April 24th. Desjardins analyst C. Li now anticipates that the company will post earnings of $1.38 per share for the quarter, down from their previous forecast of $1.39. Desjardins has a “Hold” rating and a $75.00 price objective on the stock. The consensus estimate for Metro’s current full-year earnings is $4.26 per share.

Metro (TSE:MRU) last issued its quarterly earnings results on Wednesday, April 24th. The company reported C$0.91 EPS for the quarter, hitting the consensus estimate of C$0.91. The company had revenue of C$4.66 billion for the quarter, compared to the consensus estimate of C$4.63 billion. Metro had a return on equity of 15.00% and a net margin of 4.81%.

A number of other research firms have also recently issued reports on MRU. Royal Bank of Canada lowered their price objective on Metro from C$83.00 to C$82.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 31st. National Bankshares boosted their price objective on Metro from C$80.00 to C$82.00 and gave the company a “sector perform” rating in a research report on Thursday, April 25th. Scotiabank lowered their price objective on Metro from C$74.50 to C$74.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. CIBC boosted their price objective on Metro from C$76.00 to C$77.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Finally, BMO Capital Markets boosted their price objective on Metro from C$73.00 to C$75.00 in a research report on Wednesday, January 31st. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, Metro has an average rating of “Hold” and a consensus price target of C$77.86.

Metro Stock Performance

Shares of TSE MRU opened at C$70.42 on Monday. The company has a market cap of C$15.99 billion, a P/E ratio of 16.11, a P/E/G ratio of 2.12 and a beta of 0.04. The company has a quick ratio of 0.41, a current ratio of 1.16 and a debt-to-equity ratio of 65.71. Metro has a 12 month low of C$65.43 and a 12 month high of C$78.88. The business’s 50 day moving average is C$72.17 and its two-hundred day moving average is C$70.57.

Metro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th will be given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, May 14th. Metro’s dividend payout ratio (DPR) is 30.66%.

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.