Research Analysts Offer Predictions for MTY Food Group Inc.’s FY2024 Earnings (TSE:MTY)

MTY Food Group Inc. (TSE:MTY) – Investment analysts at National Bank Financial dropped their FY2024 earnings per share (EPS) estimates for shares of MTY Food Group in a research report issued to clients and investors on Sunday, April 14th. National Bank Financial analyst V. Shreedhar now expects that the company will earn $3.50 per share for the year, down from their prior estimate of $3.55. The consensus estimate for MTY Food Group’s current full-year earnings is $4.04 per share.

MTY Food Group (TSE:MTY) last posted its quarterly earnings results on Friday, April 12th. The company reported C$0.71 earnings per share for the quarter, missing the consensus estimate of C$0.83 by C($0.12). The company had revenue of C$278.64 million during the quarter, compared to analysts’ expectations of C$263.20 million. MTY Food Group had a return on equity of 13.23% and a net margin of 8.86%.

Several other analysts also recently weighed in on MTY. TD Securities cut their price target on MTY Food Group from C$59.00 to C$49.00 and set a “hold” rating on the stock in a research note on Monday. Raymond James cut their price target on MTY Food Group from C$60.00 to C$55.00 in a research note on Tuesday. National Bankshares cut their price target on MTY Food Group from C$59.00 to C$57.00 and set an “outperform” rating on the stock in a research note on Monday. Acumen Capital lowered their price objective on MTY Food Group from C$75.00 to C$65.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Scotiabank lowered their price objective on MTY Food Group from C$55.00 to C$50.00 and set a “sector perform” rating on the stock in a research report on Monday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, MTY Food Group presently has a consensus rating of “Hold” and a consensus price target of C$54.29.

MTY Food Group Stock Performance

MTY Food Group stock opened at C$46.79 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 154.98. The company has a market capitalization of C$1.13 billion, a P/E ratio of 11.01, a PEG ratio of 0.75 and a beta of 1.98. The stock’s 50 day moving average is C$51.47 and its 200 day moving average is C$53.09. MTY Food Group has a twelve month low of C$44.48 and a twelve month high of C$68.60.

MTY Food Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, May 2nd. This represents a $1.12 annualized dividend and a dividend yield of 2.39%. MTY Food Group’s payout ratio is 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.