Maple Leaf Foods (TSE:MFI) Stock Price Passes Below 200-Day Moving Average – Here’s What Happened

Maple Leaf Foods Inc. (TSE:MFI)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$29.72 and traded as low as C$24.37. Maple Leaf Foods shares last traded at C$25.02, with a volume of 629,378 shares trading hands.

Analyst Ratings Changes

A number of research firms have commented on MFI. National Bankshares decreased their target price on shares of Maple Leaf Foods from C$39.00 to C$36.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Scotiabank decreased their price target on Maple Leaf Foods from C$35.00 to C$32.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 8th. CIBC decreased their target price on Maple Leaf Foods from C$36.00 to C$35.00 in a research note on Thursday, November 6th. TD Securities lowered their price objective on shares of Maple Leaf Foods from C$43.00 to C$42.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Finally, Royal Bank Of Canada set a C$33.00 price target on shares of Maple Leaf Foods and gave the company an “outperform” rating in a research report on Thursday, November 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$35.44.

Maple Leaf Foods Stock Down 2.6%

The company has a market cap of C$3.12 billion, a PE ratio of 15.44, a P/E/G ratio of 18.07 and a beta of 0.53. The firm has a 50-day simple moving average of C$26.21 and a two-hundred day simple moving average of C$29.72. The company has a debt-to-equity ratio of 130.19, a current ratio of 1.26 and a quick ratio of 0.54.

Maple Leaf Foods (TSE:MFI) last announced its quarterly earnings results on Wednesday, November 5th. The company reported C$0.49 earnings per share for the quarter. The firm had revenue of C$1.01 billion during the quarter. Maple Leaf Foods had a net margin of 0.70% and a return on equity of 2.19%. Research analysts anticipate that Maple Leaf Foods Inc. will post 1.4334187 earnings per share for the current fiscal year.

Maple Leaf Foods Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, December 10th. This represents a $0.76 annualized dividend and a dividend yield of 3.0%. Maple Leaf Foods’s dividend payout ratio (DPR) is 58.02%.

About Maple Leaf Foods

Maple Leaf Foods Inc is a consumer-packaged meats company. It produces prepared meats and meals, fresh pork, and poultry and turkey products. The company also has agribusiness operations. These operations supply livestock to the meat products business operations. Its main markets are Canada, the United States, Japan, and China.