MTY Food Group Inc. to Post FY2024 Earnings of $3.50 Per Share, National Bank Financial Forecasts (TSE:MTY)

MTY Food Group Inc. (TSE:MTY - Free Report) - Equities researchers at National Bank Financial cut their FY2024 earnings per share (EPS) estimates for shares of MTY Food Group in a report issued on Sunday, April 14th. National Bank Financial analyst V. Shreedhar now expects that the company will earn $3.50 per share for the year, down from their prior forecast of $3.55. The consensus estimate for MTY Food Group's current full-year earnings is $4.04 per share.

MTY Food Group (TSE:MTY - Get Free Report) last announced its quarterly earnings data on Friday, April 12th. The company reported C$0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.83 by C($0.12). MTY Food Group had a return on equity of 13.23% and a net margin of 8.86%. The firm had revenue of C$278.64 million for the quarter, compared to the consensus estimate of C$263.20 million.

Several other equities research analysts have also weighed in on MTY. Raymond James dropped their target price on MTY Food Group from C$60.00 to C$55.00 in a research report on Tuesday. CIBC dropped their target price on MTY Food Group from C$62.00 to C$53.00 and set an "outperform" rating on the stock in a research report on Monday. Royal Bank of Canada dropped their target price on MTY Food Group from C$58.00 to C$51.00 and set a "sector perform" rating on the stock in a research report on Monday. TD Securities lowered their price target on MTY Food Group from C$59.00 to C$49.00 and set a "hold" rating on the stock in a report on Monday. Finally, National Bankshares lowered their price target on MTY Food Group from C$59.00 to C$57.00 and set an "outperform" rating on the stock in a report on Monday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, MTY Food Group presently has an average rating of "Hold" and an average target price of C$54.29.

MTY Food Group Stock Performance

MTY traded up C$1.15 during trading hours on Tuesday, hitting C$46.98. 63,340 shares of the stock were exchanged, compared to its average volume of 51,538. The stock has a 50-day simple moving average of C$51.68 and a 200-day simple moving average of C$53.17. MTY Food Group has a 12 month low of C$44.48 and a 12 month high of C$68.60. The stock has a market cap of C$1.14 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 0.75 and a beta of 1.98. The company has a debt-to-equity ratio of 154.98, a current ratio of 0.61 and a quick ratio of 0.57.

MTY Food Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, May 3rd will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, May 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 2.38%. MTY Food Group's payout ratio is presently 24.24%.

MTY Food Group Company Profile

MTY Food Group Inc operates and franchises quick-service, fast-casual, and casual dining restaurants in Canada, the United States, and internationally. It also sells retail products under a multitude of banners. The company was formerly known as iNsu Innovations Group Inc and changed its name to MTY Food Group Inc in July 2003.