CIBC Trims MTY Food Group (TSE:MTY) Target Price to C$53.00

MTY Food Group (TSE:MTY) had its target price trimmed by CIBC from C$62.00 to C$53.00 in a research report released on Monday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Acumen Capital upped their target price on shares of MTY Food Group from C$60.00 to C$75.00 and gave the stock a buy rating in a report on Friday, February 16th. Raymond James lowered their target price on shares of MTY Food Group from C$65.00 to C$60.00 and set a market perform rating on the stock in a report on Friday, February 16th. Scotiabank lowered their target price 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. National Bankshares lowered their target price on shares of MTY Food Group from C$59.00 to C$57.00 and set an outperform rating on the stock in a report on Monday. Finally, TD Securities reduced their price objective 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of C$55.00.

MTY Food Group Price Performance

Shares of TSE MTY opened at C$45.83 on Monday. The firm’s 50-day moving average price is C$51.92 and its 200-day moving average price is C$53.25. MTY Food Group has a 1-year low of C$44.48 and a 1-year high of C$68.60. The firm has a market capitalization of C$1.11 billion, a P/E ratio of 10.78, a P/E/G ratio of 0.75 and a beta of 1.98. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 154.98.

MTY Food Group (TSE:MTY) last posted its earnings results on Friday, April 12th. 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 return on equity of 13.23% and a net margin of 8.86%. The business had revenue of C$278.64 million during the quarter, compared to analyst estimates of C$263.20 million. Equities 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 announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, May 3rd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.44%. 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.