Metro (TSE:MRU) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Metro shares moved above their 200-day moving average, reaching C$93.99 before closing at C$93.44, up about 1.0%, on trading volume of 742,373 shares.
• Analysts have generally turned more cautious: the consensus rating is “Hold” from one Buy and seven Hold ratings, with a consensus price target of C$102.38. Several firms recently reduced their targets to between C$95 and C$97.
• Metro paid a quarterly dividend of C$0.4075, equivalent to C$1.63 annually and a 1.7% yield; its payout ratio is 32.36%.

Metro Inc. (TSE:MRU - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$93.45 and traded as high as C$93.99. Metro shares last traded at C$93.44, with a volume of 742,373 shares changing hands.

Wall Street Analyst Weigh In

MRU has been the subject of a number of research analyst reports. Canadian Imperial Bank of Commerce decreased their target price on Metro from C$101.00 to C$97.00 and set a "neutral" rating for the company in a research report on Thursday, April 23rd. BMO Capital Markets lowered Metro from an "outperform" rating to a "hold" rating and cut their price target for the stock from C$105.00 to C$95.00 in a research report on Monday, July 20th. Scotia reduced their price objective on Metro from C$103.00 to C$96.00 and set a "sector perform" rating for the company in a research note on Thursday, April 23rd. Desjardins decreased their price objective on Metro from C$99.00 to C$97.00 and set a "hold" rating for the company in a report on Thursday, April 23rd. Finally, National Bank Financial set a C$105.00 target price on shares of Metro and gave the stock a "sector perform" rating in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of C$102.38.

Metro Stock Up 1.0%

The business's fifty day moving average price is C$91.45 and its 200 day moving average price is C$93.45. The company has a quick ratio of 0.41, a current ratio of 1.43 and a debt-to-equity ratio of 69.30. The firm has a market capitalization of C$19.71 billion, a PE ratio of 19.92, a PEG ratio of 4.06 and a beta of 0.16.

Metro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, June 2nd were given a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 1.7%. The ex-dividend date was Wednesday, May 13th. Metro's payout ratio is 32.36%.

Metro Company Profile

With annual sales of more than $22 billion, METRO Inc is a food and pharmacy leader in Québec and Ontario, providing employment to more than 97,000 people. Its purpose is to Nourish the health and well-being of our communities. As a retailer, franchisor, distributor, manufacturer, and provider of eCommerce services, the company operates or services a network of some 1,000 food stores under several banners including Metro, Metro Plus, Super C, Food Basics, Adonis and Première Moisson, and some 640 pharmacies primarily under the Jean Coutu, Brunet, Metro Pharmacy and Food Basics Pharmacy banners.

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