Metro (TSE:MRU) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Metro Inc. (TSE:MRU)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$89.14 and traded as high as C$95.25. Metro shares last traded at C$94.90, with a volume of 312,663 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. BMO Capital Markets upgraded Metro from a “market perform” rating to an “outperform” rating and upped their price target for the stock from C$92.00 to C$96.00 in a report on Thursday, January 30th. UBS Group raised their price objective on shares of Metro from C$98.00 to C$99.00 in a report on Thursday, January 30th. CIBC lifted their target price on Metro from C$86.00 to C$91.00 in a research report on Thursday, November 21st. Royal Bank of Canada cut Metro from a “moderate buy” rating to a “hold” rating in a research note on Thursday, November 21st. Finally, Scotiabank upped their target price on shares of Metro from C$98.00 to C$100.00 in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$93.56.

Metro Price Performance

The company has a quick ratio of 0.41, a current ratio of 1.35 and a debt-to-equity ratio of 62.29. The stock has a fifty day moving average of C$92.63 and a two-hundred day moving average of C$89.14. The stock has a market cap of C$20.99 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 4.06 and a beta of 0.08.

Metro Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, March 11th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.48 dividend on an annualized basis and a yield of 1.56%. This is an increase from Metro’s previous quarterly dividend of $0.34. Metro’s payout ratio is currently 30.93%.

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.