Scotia Cuts MTY Food Group (TSE:MTY) Price Target to C$40.00

Key Points

• Scotia lowered its price target on MTY Food Group to C$40.00 from C$45.00 and kept a sector perform rating, implying about 19% upside from the prior close.
• Other analysts also turned more cautious, with several firms cutting targets; the current consensus rating is Hold with an average price target of C$42.50.
• MTY shares were down slightly to C$33.59 on heavier-than-normal volume, while the company recently reported C$0.98 EPS and C$267.76 million in quarterly revenue.

MTY Food Group (TSE:MTY - Get Free Report) had its price objective reduced by research analysts at Scotia from C$45.00 to C$40.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Scotia's price objective suggests a potential upside of 19.08% from the stock's previous close.

Several other equities analysts have also weighed in on MTY. Raymond James Financial reduced their price objective on shares of MTY Food Group from C$46.00 to C$45.00 and set a "market perform" rating for the company in a research report on Monday, April 13th. TD cut their target price on shares of MTY Food Group from C$42.00 to C$38.00 and set a "hold" rating for the company in a research note on Monday. Scotiabank reduced their target price on shares of MTY Food Group from C$46.00 to C$45.00 and set a "sector perform" rating for the company in a report on Monday, April 13th. Royal Bank Of Canada reduced their target price on shares of MTY Food Group from C$46.00 to C$41.00 and set a "sector perform" rating for the company in a report on Monday. Finally, National Bank Financial dropped their price target on MTY Food Group from C$49.00 to C$43.00 and set an "outperform" rating on the stock in a report on Monday. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of C$42.50.

MTY Food Group Price Performance

Shares of MTY stock traded down C$0.16 during mid-day trading on Monday, hitting C$33.59. 181,811 shares of the stock traded hands, compared to its average volume of 76,176. The company has a debt-to-equity ratio of 123.64, a quick ratio of 0.56 and a current ratio of 0.73. The firm has a market cap of C$767.23 million, a price-to-earnings ratio of 4.99, a price-to-earnings-growth ratio of 0.75 and a beta of 1.00. The company's 50-day simple moving average is C$38.59 and its 200-day simple moving average is C$39.67. MTY Food Group has a twelve month low of C$31.87 and a twelve month high of C$45.90.

MTY Food Group (TSE:MTY - Get Free Report) last released its earnings results on Friday, April 10th. The company reported C$0.98 earnings per share (EPS) for the quarter. MTY Food Group had a return on equity of 13.22% and a net margin of 9.78%.The firm had revenue of C$267.76 million for the quarter. As a group, equities research analysts expect that MTY Food Group will post 4.4909091 earnings per share for the current year.

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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