MTY Food Group (TSE:MTY) Reaches New 52-Week Low – Here’s What Happened

MTY Food Group Inc. (TSE:MTY)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as C$36.31 and last traded at C$36.50, with a volume of 44091 shares traded. The stock had previously closed at C$37.75.

Wall Street Analyst Weigh In

MTY has been the topic of a number of analyst reports. Scotiabank dropped their price target on shares of MTY Food Group from C$45.00 to C$42.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Royal Bank Of Canada dropped their price target on shares of MTY Food Group from C$51.00 to C$48.00 in a research note on Monday, July 14th. Finally, Acumen Capital dropped their price target on shares of MTY Food Group from C$60.00 to C$50.00 and set a “buy” rating on the stock in a research note on Monday, July 14th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, MTY Food Group has a consensus rating of “Hold” and an average price target of C$47.50.

MTY Food Group Trading Down 9.0%

The stock has a 50-day simple moving average of C$38.41 and a two-hundred day simple moving average of C$40.45. The company has a debt-to-equity ratio of 142.67, a quick ratio of 0.57 and a current ratio of 0.61. The firm has a market cap of C$784.59 million, a PE ratio of 19.97, a price-to-earnings-growth ratio of 0.75 and a beta of 1.18.

MTY Food Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 15th were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.32 dividend on an annualized basis and a yield of 3.8%. MTY Food Group’s payout ratio is 70.93%.

About MTY Food Group

MTY Food Group Inc is a franchisor in the quick service and casual dining food industry. Its activities consist of franchising and operating corporate-owned locations as well as the sale of retail products under a multitude of banners. The company’s operating segment is based on geographical regions namely Canada and US and International.