Metro (TSE:MRU) Stock Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Metro Inc. shares recently surpassed their 200-day moving average of C$99.90, reaching a high of C$106.30 during trading.
• Research analysts have raised their price targets for Metro, with TD Securities increasing theirs to C$118.00 along with a "buy" rating, while the average target price is now C$106.44.
• The company declared a quarterly dividend of $0.37, resulting in an annualized yield of 1.4%, with a payout ratio of 30.93%.

Shares of Metro Inc. (TSE:MRU - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$99.90 and traded as high as C$106.30. Metro shares last traded at C$105.95, with a volume of 282,777 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. TD Securities lifted their price objective on Metro from C$112.00 to C$118.00 and gave the company a "buy" rating in a report on Thursday, July 31st. UBS Group lifted their price objective on Metro from C$99.00 to C$105.00 in a report on Thursday, April 17th. CIBC lifted their price objective on Metro from C$91.00 to C$106.00 in a report on Thursday, April 17th. Scotiabank boosted their price target on Metro from C$100.00 to C$110.00 and gave the stock an "outperform" rating in a research note on Thursday, April 17th. Finally, Royal Bank Of Canada boosted their price target on Metro from C$98.00 to C$112.00 in a research note on Monday, July 21st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of C$106.44.

Metro Price Performance

The company has a market capitalization of C$23.70 billion, a P/E ratio of 24.74, a price-to-earnings-growth ratio of 4.06 and a beta of 0.08. The company has a debt-to-equity ratio of 62.29, a current ratio of 1.35 and a quick ratio of 0.41. The company has a fifty day moving average price of C$105.33 and a 200 day moving average price of C$100.27.

Metro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.37 per share. The ex-dividend date was Wednesday, May 7th. This represents a $1.48 annualized dividend and a dividend yield of 1.4%. Metro's 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.