Metro (TSE:MRU) Share Price Crosses Below Two Hundred Day Moving Average - What's Next?

Key Points

• Metro Inc. shares have fallen below their 200-day moving average of C$101.69, trading as low as C$91.40.
• Equities analysts have mixed opinions; BMO Capital upgraded their target to C$115.00 while National Bank slightly reduced their target to C$110.00, resulting in a general consensus rating of "Hold".
• The company announced a quarterly dividend of $0.37 per share, equating to an annualized yield of 1.6%, with the ex-dividend date set for October 23rd.

Metro Inc. (TSE:MRU - Get Free Report) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$101.69 and traded as low as C$91.40. Metro shares last traded at C$91.43, with a volume of 666,507 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MRU shares. BMO Capital Markets increased their price target on Metro from C$110.00 to C$115.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. National Bankshares cut their price objective on Metro from C$111.00 to C$110.00 and set a "sector perform" rating for the company in a report on Thursday, August 14th. Royal Bank Of Canada lifted their price target on Metro from C$98.00 to C$112.00 in a report on Monday, July 21st. Finally, TD Securities boosted their price objective on Metro from C$112.00 to C$118.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Metro currently has a consensus rating of "Hold" and a consensus target price of C$110.13.

Metro Trading Down 1.8%

The company has a market cap of C$19.89 billion, a P/E ratio of 19.83, a PEG ratio of 4.06 and a beta of 0.22. 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 business has a 50 day moving average price of C$98.39 and a 200-day moving average price of C$101.69.

Metro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 11th. Investors of record on Thursday, October 23rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Thursday, October 23rd. Metro's dividend payout ratio is 30.59%.

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.

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