Royal Bank Of Canada Cuts Metro (TSE:MRU) Price Target to C$110.00

Key Points

• Royal Bank of Canada lowered Metro’s price target to C$110 from C$111 while maintaining a “sector perform” rating, implying 22.78% upside from the stock’s C$89.59 price.
• Analyst sentiment remains mixed but generally cautious: MarketBeat reports a consensus “Hold” rating and average target of C$102.33, with recent target changes ranging from C$95 to C$108.
• Metro recently reported quarterly EPS of C$1.24 on revenue of C$6.97 billion. The stock trades below its 50-day and 200-day moving averages and has a 12-month range of C$86.63 to C$102.71.

Metro (TSE:MRU - Get Free Report) had its price objective reduced by analysts at Royal Bank Of Canada from C$111.00 to C$110.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 22.78% from the stock's current price.

Several other equities analysts also recently commented on MRU. TD increased their price objective on shares of Metro from C$106.00 to C$108.00 and gave the company a "buy" rating in a research note on Thursday. Scotia lowered their price target on shares of Metro from C$103.00 to C$96.00 and set a "sector perform" rating for the company in a report on Thursday, April 23rd. TD Securities upgraded Metro to a "strong-buy" rating in a research note on Wednesday, July 29th. BMO Capital Markets downgraded Metro from an "outperform" rating to a "hold" rating and cut their price objective for the company from C$105.00 to C$95.00 in a report on Monday, July 20th. Finally, Canadian Imperial Bank of Commerce cut their price objective on Metro from C$101.00 to C$97.00 and set a "neutral" rating on the stock in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of C$102.33.

Metro Stock Performance

TSE MRU traded down C$0.39 during trading on Thursday, reaching C$89.59. The company's stock had a trading volume of 222,575 shares, compared to its average volume of 532,578. The firm has a 50 day moving average price of C$92.23 and a 200 day moving average price of C$92.91. Metro has a 12 month low of C$86.63 and a 12 month high of C$102.71. The firm has a market capitalization of C$18.90 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 4.06 and a beta of 0.18. The company has a current ratio of 1.43, a quick ratio of 0.41 and a debt-to-equity ratio of 69.30.

Metro (TSE:MRU - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported C$1.24 EPS for the quarter. The company had revenue of C$6.97 billion for the quarter. Metro had a return on equity of 14.38% and a net margin of 4.52%. As a group, equities analysts anticipate that Metro will post 4.8188614 EPS for the current fiscal year.

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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