Metro (TSE:MRU) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Metro Inc. (TSE:MRU)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$99.05 and traded as low as C$97.46. Metro shares last traded at C$97.47, with a volume of 495,322 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Desjardins set a C$105.00 target price on Metro and gave the stock a “hold” rating in a research report on Thursday, November 20th. BMO Capital Markets decreased their price objective on Metro from C$115.00 to C$110.00 in a research note on Monday, November 3rd. Scotiabank increased their price objective on Metro from C$108.00 to C$110.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Finally, National Bankshares cut their target price on Metro from C$110.00 to C$107.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 15th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Metro has an average rating of “Moderate Buy” and a consensus price target of C$109.13.

Metro Stock Down 1.0%

The company has a market cap of C$20.83 billion, a PE ratio of 21.05, a P/E/G ratio of 4.06 and a beta of 0.11. The stock has a 50-day moving average of C$98.08 and a 200-day moving average of C$99.05. The company has a quick ratio of 0.41, a current ratio of 1.35 and a debt-to-equity ratio of 62.29.

Metro (TSE:MRU) last announced its earnings results on Wednesday, November 19th. The company reported C$1.13 earnings per share for the quarter. Metro had a return on equity of 13.80% and a net margin of 4.50%.The business had revenue of C$5.11 billion for the quarter. Sell-side analysts predict that Metro Inc. will post 4.8188614 earnings per share for the current fiscal year.

Metro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Wednesday, November 12th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, October 23rd. Metro’s dividend payout ratio (DPR) is currently 31.21%.

About Metro

Metro is one of the largest grocery retailers in Canada. With its 2018 acquisition of Jean Coutu, it also boasts a meaningful drugstore footprint. Noteworthy grocery banners include Metro, Metro Plus, Super C, and Food Basics, while its pharmacies primarily operate under the Jean Coutu and Brunet trademarks. It utilizes an array of business models, but it most frequently acts as either a retailer, operating individual stores, or a franchiser, licensing its trademarks and supplying merchandise to franchisees.