Metro (TSE:MRU) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Metro Inc. (TSE:MRU) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$78.07 and traded as high as C$84.62. Metro shares last traded at C$84.10, with a volume of 436,024 shares changing hands.

Wall Street Analyst Weigh In

MRU has been the subject of several analyst reports. National Bankshares increased their price objective on Metro from C$85.00 to C$88.00 in a research report on Thursday, August 15th. Desjardins raised their price objective on Metro from C$75.00 to C$80.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. BMO Capital Markets boosted their price objective on shares of Metro from C$82.00 to C$85.00 in a report on Thursday, August 15th. CIBC increased their target price on shares of Metro from C$77.00 to C$86.00 in a research note on Thursday, August 15th. Finally, Cfra lifted their price target on shares of Metro from C$76.00 to C$85.00 in a research report on Thursday, August 15th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Metro presently has an average rating of “Hold” and a consensus target price of C$84.25.

Metro Stock Up 0.4 %

The company has a market capitalization of C$18.92 billion, a PE ratio of 20.78, a PEG ratio of 2.12 and a beta of 0.08. The company has a current ratio of 1.10, a quick ratio of 0.41 and a debt-to-equity ratio of 64.18. The business has a fifty day moving average of C$84.13 and a 200 day moving average of C$78.21.

Metro (TSE:MRU) last posted its quarterly earnings data on Wednesday, August 14th. The company reported C$1.35 EPS for the quarter, meeting the consensus estimate of C$1.35. Metro had a net margin of 4.36% and a return on equity of 13.74%. The business had revenue of C$6.65 billion during the quarter, compared to analyst estimates of C$6.58 billion. Equities research analysts anticipate that Metro Inc. will post 4.7104528 EPS for the current year.

Metro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 12th will be paid a $0.335 dividend. The ex-dividend date is Thursday, October 24th. This represents a $1.34 annualized dividend and a dividend yield of 1.58%. Metro’s dividend payout ratio (DPR) is 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.