Metro (TSE:MRU) Sets New 12-Month High – Here’s What Happened

Metro Inc. (TSE:MRU)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$88.49 and last traded at C$88.43, with a volume of 21194 shares. The stock had previously closed at C$87.08.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MRU shares. CIBC raised their price objective on shares of Metro from C$77.00 to C$86.00 in a research note on Thursday, August 15th. Cfra raised their price objective on shares of Metro from C$76.00 to C$85.00 in a research note on Thursday, August 15th. National Bankshares raised their price objective on shares of Metro from C$85.00 to C$88.00 in a research note on Thursday, August 15th. Royal Bank of Canada raised their price objective on shares of Metro from C$84.00 to C$90.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Desjardins raised their price objective on shares of Metro from C$75.00 to C$80.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$85.00.

Metro Stock Performance

The stock has a market capitalization of C$19.73 billion, a P/E ratio of 21.29, a PEG ratio of 4.06 and a beta of 0.08. The firm has a 50-day moving average of C$84.60 and a 200 day moving average of C$80.62. The company has a quick ratio of 0.41, a current ratio of 1.10 and a debt-to-equity ratio of 64.18.

Metro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.335 per share. The ex-dividend date was Thursday, October 24th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.51%. Metro’s payout ratio is presently 32.76%.

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.