Metro (TSE:MRU) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Metro Inc. (TSE:MRU) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$78.63 and traded as high as C$84.22. Metro shares last traded at C$84.12, with a volume of 271,754 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. TD Securities raised shares of Metro from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$80.00 to C$92.00 in a report on Monday, July 22nd. Desjardins raised their price objective on shares of Metro from C$75.00 to C$80.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th. CIBC raised their price objective on shares of Metro from C$77.00 to C$86.00 in a report on Thursday, August 15th. Cfra raised their price objective on shares of Metro from C$76.00 to C$85.00 in a report on Thursday, August 15th. Finally, National Bankshares raised their price objective on shares of Metro from C$85.00 to C$88.00 in a report on Thursday, August 15th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$84.25.

Metro Stock Performance

The stock has a market cap of C$18.73 billion, a P/E ratio of 20.57, a PEG ratio of 4.06 and a beta of 0.08. 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’s 50-day moving average price is C$84.48 and its 200-day moving average price is C$78.63.

Metro (TSE:MRU) last released its quarterly earnings data on Wednesday, August 14th. The company reported C$1.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$1.35. The firm had revenue of C$6.65 billion for the quarter, compared to analysts’ expectations of C$6.58 billion. Metro had a net margin of 4.36% and a return on equity of 13.74%. Sell-side analysts expect that Metro Inc. will post 4.7186459 earnings per share for the current fiscal year.

Metro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Thursday, October 24th. Metro’s payout ratio is currently 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.