MTY Food Group (TSE:MTY) Stock Price Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• MTY Food Group shares fell below their 200-day moving average of C$36.81, trading as low as C$31.63 and last changing hands at C$31.70.
• Analysts have generally become more cautious, cutting price targets to between C$38 and C$40. The stock has an average rating of “Hold” and an average target of C$42.12.
• MTY reported C$0.67 in quarterly earnings per share on C$279.94 million in revenue and pays a quarterly dividend of C$0.37, equivalent to a 4.7% yield.

MTY Food Group Inc. (TSE:MTY - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$36.81 and traded as low as C$31.63. MTY Food Group shares last traded at C$31.70, with a volume of 29,217 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MTY shares. National Bank Financial decreased 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 report on Tuesday, September 15th. TD Securities upgraded MTY Food Group to a "hold" rating in a research note on Monday, July 13th. Raymond James Financial reduced their target price on MTY Food Group from C$45.00 to C$40.00 and set a "market perform" rating for the company in a research report on Monday, July 13th. Scotia decreased their price target on shares of 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. Finally, TD lowered their price target on shares of MTY Food Group from C$42.00 to C$38.00 and set a "hold" rating on the stock in a report on Monday, July 13th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, MTY Food Group currently has an average rating of "Hold" and an average price target of C$42.12.

MTY Food Group Trading Down 0.4%

The company has a debt-to-equity ratio of 123.64, a current ratio of 0.73 and a quick ratio of 0.56. The business's 50 day simple moving average is C$33.86 and its 200 day simple moving average is C$36.81. The stock has a market cap of C$724.06 million, a P/E ratio of 6.44, a PEG ratio of 0.75 and a beta of 1.03.

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

MTY Food Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 14th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Tuesday, August 4th. MTY Food Group's payout ratio is currently 28.46%.

MTY Food Group Company Profile

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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