MTY Food Group (TSE:MTY) Hits New 1-Year Low - Here's What Happened

Key Points

• MTY Food Group's stock price fell to a new **52-week low** of C$36.31, a decrease from its previous close of C$37.75, with trading volume at **44,091 shares**.
• Analysts have reduced their target prices for MTY shares, with Royal Bank of Canada lowering its target from C$51.00 to C$48.00 and Scotiabank from C$45.00 to C$42.00, leading to a consensus rating of **"Hold."**
• The company recently announced a **quarterly dividend** of $0.33, which represents an annualized yield of **3.8%** and a payout ratio of 70.93%.

MTY Food Group Inc. (TSE:MTY - Get Free Report)'s stock price hit a new 52-week low on Friday . The stock traded as low as C$36.31 and last traded at C$36.50, with a volume of 44091 shares trading hands. The stock had previously closed at C$37.75.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MTY shares. Royal Bank Of Canada reduced their target price on shares of MTY Food Group from C$51.00 to C$48.00 in a report on Monday, July 14th. Scotiabank reduced their target price on shares of MTY Food Group from C$45.00 to C$42.00 and set a "sector perform" rating on the stock in a report on Wednesday. Finally, Acumen Capital cut their price objective on shares of MTY Food Group from C$60.00 to C$50.00 and set a "buy" rating on the stock in a report on Monday, July 14th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, MTY Food Group has a consensus rating of "Hold" and a consensus target price of C$47.50.

MTY Food Group Stock Down 7.3%

The business's fifty day moving average price is C$38.49 and its 200 day moving average price is C$40.52. The firm has a market capitalization of C$799.44 million, a price-to-earnings ratio of 20.35, a PEG ratio of 0.75 and a beta of 1.18. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 142.67.

MTY Food Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 15th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, August 5th. MTY Food Group's payout ratio is presently 70.93%.

MTY Food Group Company Profile

MTY Food Group Inc is a franchisor in the quick service and casual dining food industry. Its activities consist of franchising and operating corporate-owned locations as well as the sale of retail products under a multitude of banners. The company's operating segment is based on geographical regions namely Canada and US and International.

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