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

Key Points

• MTY Food Group shares hit a new 52-week low, falling to as low as C$32.21 during intraday trading before closing near C$32.27.
• Several analysts cut their price targets after the move, with multiple firms lowering estimates into the C$38 to C$43 range; the stock now carries a Hold consensus rating and an average target price of C$42.50.
• The company still offers a 4.6% dividend yield after declaring a quarterly dividend of C$0.37 per share, payable on August 14, with a relatively low payout ratio of 28.46%.

Shares of MTY Food Group Inc. (TSE:MTY - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as C$32.21 and last traded at C$32.27, with a volume of 129200 shares changing hands. The stock had previously closed at C$32.85.

Wall Street Analysts Forecast Growth

MTY has been the subject of several research analyst reports. National Bank Financial dropped their price objective on MTY Food Group from C$49.00 to C$43.00 and set an "outperform" rating for the company in a research note on Monday, July 13th. TD decreased their target price on MTY Food Group from C$42.00 to C$38.00 and set a "hold" rating on the stock in a research report on Monday, July 13th. Royal Bank Of Canada lowered their target price on MTY Food Group from C$46.00 to C$41.00 and set a "sector perform" rating on the stock in a report on Monday, July 13th. Scotia dropped their price target on MTY Food Group from C$45.00 to C$40.00 and set a "sector perform" rating for the company in a research report on Monday, July 13th. Finally, TD Securities raised MTY Food Group to a "hold" rating in a research note on Monday, July 13th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of C$42.50.

MTY Food Group Stock Performance

The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 123.64. The stock's 50 day moving average price is C$37.67 and its two-hundred day moving average price is C$39.40. The firm has a market capitalization of C$734.79 million, a PE ratio of 6.54, a PEG ratio of 0.75 and a beta of 1.00.

MTY Food Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, August 14th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, August 4th. MTY Food Group's payout ratio is 28.46%.

About MTY Food Group

MTY Group franchises and operates quick-service, fast casual and casual dining restaurants over 80 different banners in Canada, the US and Internationally. Based in Montreal, MTY is a family whose heart beats to the rhythm of its brands, the very soul of its multi-branded strategy. For over 45 years, it has been increasing its presence by delivering new concepts of restaurants, making acquisitions, and forging strategic alliances, which have allowed it to reach new heights year after year. By combining new trends with operational know-how, the brands forming the MTY Group now touch the lives of millions of people every year.

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