MTY Food Group (TSE:MTY) Stock Price Down 7.9% After Earnings Miss

MTY Food Group Inc. (TSE:MTY) traded down 7.9% during trading on Friday following a dissappointing earnings announcement. The company traded as low as C$45.97 and last traded at C$46.16. 68,395 shares traded hands during trading, an increase of 48% from the average session volume of 46,274 shares. The stock had previously closed at C$50.14.

The company reported C$0.71 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.83 by C($0.12). MTY Food Group had a net margin of 8.90% and a return on equity of 13.60%. The company had revenue of C$278.64 million during the quarter, compared to the consensus estimate of C$263.20 million.

MTY Food Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, May 3rd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Thursday, May 2nd. MTY Food Group’s payout ratio is currently 24.24%.

Analysts Set New Price Targets

MTY has been the topic of a number of research reports. CIBC cut their price objective on shares of MTY Food Group from C$71.00 to C$62.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 20th. TD Securities lowered their target price on shares of MTY Food Group from C$65.00 to C$60.00 and set a “hold” rating on the stock in a report on Friday, February 16th. National Bankshares lowered their target price on shares of MTY Food Group from C$71.00 to C$59.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Scotiabank decreased their price objective on shares of MTY Food Group from C$62.00 to C$55.00 and set a “sector perform” rating on the stock in a report on Friday, February 16th. Finally, Royal Bank of Canada decreased their price objective on shares of MTY Food Group from C$66.00 to C$48.00 and set a “sector perform” rating on the stock in a report on Friday, February 16th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MTY Food Group presently has a consensus rating of “Hold” and a consensus price target of C$59.86.

MTY Food Group Stock Performance

The stock’s 50-day moving average price is C$51.92 and its 200-day moving average price is C$53.30. The company has a market cap of C$1.10 billion, a P/E ratio of 10.63, a PEG ratio of 0.75 and a beta of 1.98. The company has a debt-to-equity ratio of 160.56, a current ratio of 0.64 and a quick ratio of 0.57.

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.