Scotiabank Cuts Metro (TSE:MRU) Price Target to C$103.00

Metro (TSE:MRU) had its price target trimmed by Scotiabank from C$110.00 to C$103.00 in a research note released on Wednesday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

MRU has been the subject of a number of other research reports. National Bankshares dropped their price objective on shares of Metro from C$107.00 to C$106.00 and set a “sector perform” rating for the company in a report on Wednesday. Royal Bank Of Canada upped their price target on shares of Metro from C$112.00 to C$113.00 and gave the company a “sector perform” rating in a research report on Friday, January 23rd. BMO Capital Markets cut their price target on shares of Metro from C$115.00 to C$110.00 in a report on Monday, November 3rd. Desjardins decreased their price objective on Metro from C$105.00 to C$99.00 and set a “hold” rating for the company in a report on Wednesday. Finally, TD Securities lowered their target price on Metro from C$118.00 to C$113.00 and set a “buy” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$106.25.

Metro Trading Down 0.0%

TSE MRU opened at C$90.39 on Wednesday. The company has a market cap of C$19.27 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 4.06 and a beta of 0.11. Metro has a twelve month low of C$89.13 and a twelve month high of C$109.20. The company has a quick ratio of 0.41, a current ratio of 1.35 and a debt-to-equity ratio of 62.29. The business’s fifty day moving average is C$98.30 and its 200 day moving average is C$98.05.

Metro (TSE:MRU) last posted its earnings results on Tuesday, January 27th. The company reported C$1.16 EPS for the quarter. Metro had a return on equity of 13.80% and a net margin of 4.50%.The firm had revenue of C$5.29 billion during the quarter. As a group, sell-side analysts expect that Metro will post 4.8188614 EPS for the current fiscal year.

Insider Activity

In related news, insider Richard Pruneau sold 2,018 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of C$90.87, for a total transaction of C$183,375.66. Following the completion of the sale, the insider owned 12,433 shares of the company’s stock, valued at C$1,129,786.71. This trade represents a 13.96% decrease in their ownership of the stock. Also, insider Genevi�Ve Bich sold 4,418 shares of Metro stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of C$91.13, for a total value of C$402,612.34. Following the completion of the sale, the insider owned 35,677 shares of the company’s stock, valued at approximately C$3,251,245.01. The trade was a 11.02% decrease in their ownership of the stock. Company insiders own 0.14% of the company’s stock.

Metro Company Profile

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.