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

Key Points

• MTY Food Group shares hit a new 52-week low, falling to C$30.83 and trading 2.3% lower, below both their 50-day and 200-day moving averages.
• Analysts have broadly reduced their price targets, with the consensus rating at “Hold” and an average target of C$42.12; ratings include two Buys and six Holds.
• The company reported C$279.94 million in quarterly revenue and C$0.67 EPS, while maintaining a quarterly dividend of C$0.37, equivalent to a 4.8% annualized yield.

MTY Food Group Inc. (TSE:MTY - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday. The company traded as low as C$30.83 and last traded at C$30.87, with a volume of 68035 shares changing hands. The stock had previously closed at C$31.42.

Analysts Set New Price Targets

MTY has been the subject of several recent research reports. TD Securities upgraded MTY Food Group to a "hold" rating in a report on Monday, July 13th. TD cut 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 decreased their price objective on shares of 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. National Bank Financial reduced their price objective on MTY Food Group from C$43.00 to C$40.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 15th. Finally, Scotia cut their target price on MTY Food Group from C$45.00 to C$40.00 and set a "sector perform" rating on the stock in a research note on Monday, July 13th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of C$42.12.

MTY Food Group Trading Down 2.3%

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 business's 50 day moving average price is C$33.70 and its two-hundred day moving average price is C$36.58. The company has a market capitalization of C$701.45 million, a price-to-earnings ratio of 6.24, a P/E/G ratio of 0.75 and a beta of 0.98.

MTY Food Group (TSE:MTY - Get Free Report) last issued its quarterly earnings results on Friday, July 10th. The company reported C$0.67 earnings per share (EPS) for the quarter. MTY Food Group had a net margin of 9.78% and a return on equity of 13.22%. The company had revenue of C$279.94 million during the quarter. On average, equities analysts predict that MTY Food Group Inc. will post 4.4909091 earnings per share for the current fiscal year.

MTY Food Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 14th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Tuesday, August 4th. MTY Food Group's dividend payout ratio (DPR) is presently 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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