Metro (TSE:MRU) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Metro Inc. (TSE:MRU)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$96.53 and traded as high as C$105.45. Metro shares last traded at C$104.02, with a volume of 390,985 shares.

Analyst Ratings Changes

Several equities research analysts have recently commented on MRU shares. BMO Capital Markets boosted their target price on shares of Metro from C$96.00 to C$110.00 in a research note on Friday, April 4th. Royal Bank of Canada raised their price objective on shares of Metro from C$90.00 to C$98.00 in a report on Monday, April 14th. CIBC boosted their target price on Metro from C$91.00 to C$106.00 in a report on Thursday, April 17th. Desjardins raised their price target on Metro from C$95.00 to C$105.00 and gave the company a “hold” rating in a report on Thursday, April 17th. Finally, UBS Group increased their target price on Metro from C$99.00 to C$105.00 in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Metro presently has an average rating of “Hold” and an average target price of C$104.22.

Metro Price Performance

The company has a market capitalization of C$23.00 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 4.06 and a beta of 0.08. The company has a current ratio of 1.35, a quick ratio of 0.41 and a debt-to-equity ratio of 62.29. The company has a 50 day moving average price of C$103.39 and a 200 day moving average price of C$96.53.

Metro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $1.48 annualized dividend and a yield of 1.42%. Metro’s dividend payout ratio is currently 30.93%.

Metro Company Profile

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.