Desjardins Analysts Lower Earnings Estimates for Metro Inc. (TSE:MRU)

Metro Inc. (TSE:MRU) – Equities research analysts at Desjardins dropped their Q2 2024 earnings per share (EPS) estimates for shares of Metro in a research note issued on Monday, April 22nd. Desjardins analyst C. Li now expects that the company will post earnings of $0.88 per share for the quarter, down from their prior estimate of $0.90. The consensus estimate for Metro’s current full-year earnings is $4.26 per share. Desjardins also issued estimates for Metro’s Q3 2024 earnings at $1.39 EPS.

Metro (TSE:MRU) last announced its quarterly earnings results on Tuesday, January 30th. The company reported C$1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.99 by C$0.03. Metro had a net margin of 4.81% and a return on equity of 15.00%. The firm had revenue of C$4.97 billion for the quarter, compared to the consensus estimate of C$4.86 billion.

A number of other equities research analysts have also weighed in on MRU. Royal Bank of Canada lowered their target price on Metro from C$83.00 to C$82.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 31st. Scotiabank lowered their price target on Metro from C$74.50 to C$74.00 and set a “sector perform” rating on the stock in a report on Monday. National Bankshares lifted their price objective on Metro from C$80.00 to C$81.00 and gave the stock a “sector perform” rating in a report on Monday, January 15th. BMO Capital Markets upped their target price on shares of Metro from C$73.00 to C$75.00 in a research note on Wednesday, January 31st. Finally, TD Securities raised their price target on shares of Metro from C$76.00 to C$78.00 and gave the company a “hold” rating in a report on Wednesday, January 31st. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$77.14.

Metro Stock Performance

Metro stock opened at C$70.28 on Wednesday. Metro has a 1-year low of C$65.43 and a 1-year high of C$78.88. The company has a current ratio of 1.16, a quick ratio of 0.41 and a debt-to-equity ratio of 65.71. The firm has a market capitalization of C$15.96 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 2.12 and a beta of 0.04. The firm’s 50 day simple moving average is C$72.19 and its 200 day simple moving average is C$70.61.

Metro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 12th were given a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 1.91%. This is a boost from Metro’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 14th. Metro’s dividend payout ratio (DPR) is presently 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.