Scotiabank Issues Pessimistic Forecast for MTY Food Group (TSE:MTY) Stock Price

Key Points

• Scotiabank lowered its price target on MTY Food Group to C$45 (from C$46) and maintained a "sector perform" rating, with the target implying about a 19% upside from the current share price.
• Analyst consensus is a "Hold" with a consensus price target of C$46; two analysts rate the stock Buy, five rate it Hold, and National Bank is an outlier with an "Outperform" and a C$49 target.
• MTY shares traded down to C$37.80 (-2.7%); the company reported recent quarterly EPS of C$0.98 on C$267.77M revenue and currently trades at a P/E of 7.3 with a market cap of about C$863M.

MTY Food Group (TSE:MTY - Get Free Report) had its price target decreased by equities research analysts at Scotiabank from C$46.00 to C$45.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Scotiabank's price target suggests a potential upside of 19.05% from the company's current price.

Several other research analysts also recently commented on the company. Royal Bank Of Canada cut their target price on MTY Food Group from C$48.00 to C$46.00 and set a "sector perform" rating on the stock in a report on Monday. TD Securities lifted their target price on MTY Food Group from C$37.00 to C$45.00 and gave the stock a "hold" rating in a report on Friday, February 20th. TD cut their target price on MTY Food Group from C$45.00 to C$42.00 and set a "hold" rating on the stock in a report on Monday. Raymond James Financial cut their target price on MTY Food Group from C$46.00 to C$45.00 and set a "market perform" rating on the stock in a report on Monday. Finally, National Bank Financial set a C$49.00 target price on MTY Food Group and gave the stock an "outperform" rating in a report on Monday, April 6th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of C$46.00.

MTY Food Group Trading Down 2.7%

MTY traded down C$1.05 during midday trading on Monday, hitting C$37.80. 41,844 shares of the company were exchanged, compared to its average volume of 89,238. The firm has a market capitalization of C$863.39 million, a P/E ratio of 7.30, a P/E/G ratio of 0.75 and a beta of 0.85. MTY Food Group has a 1-year low of C$32.92 and a 1-year high of C$46.36. The firm's 50 day moving average price is C$40.55 and its 200-day moving average price is C$38.56. The company has a quick ratio of 0.57, a current ratio of 0.69 and a debt-to-equity ratio of 127.62.

MTY Food Group (TSE:MTY - Get Free Report) last announced its earnings results on Friday, April 10th. The company reported C$0.98 EPS for the quarter. The firm had revenue of C$267.77 million for the quarter. MTY Food Group had a return on equity of 18.59% and a net margin of 13.14%. As a group, equities analysts forecast that MTY Food Group will post 4.4909091 EPS for the current fiscal year.

MTY Food Group Company Profile

MTY Food Group Inc is a franchisor in the quick service and casual dining food industry. Its activities consist of franchising and operating corporate-owned locations as well as the sale of retail products under a multitude of banners. The company's operating segment is based on geographical regions namely Canada and US and International. It generates maximum revenue from Canada. The company brands include Big Smoke Burger, Cafe Depot, Country Style, Croissant Plus, Cultures, Extremepita, Fabrika, Jus Jugo Juice, Koya Japan, ManchuWok, Muffin plus, Valentine, Van Houtte, Shushiman and others.

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