Metro (TSE:MRU) Shares Pass Below 200 Day Moving Average – What’s Next?

Shares of Metro Inc. (TSE:MRU) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$93.78 and traded as low as C$92.31. Metro shares last traded at C$93.30, with a volume of 311,043 shares changing hands.

Analyst Ratings Changes

A number of research firms recently issued reports on MRU. Scotia lowered their price target on Metro from C$103.00 to C$96.00 and set a “sector perform” rating on the stock in a report on Thursday, April 23rd. Scotiabank downgraded Metro from an “outperform” rating to a “hold” rating and set a C$103.00 target price on the stock. in a research note on Thursday, April 9th. National Bank Financial set a C$105.00 target price on Metro and gave the company a “sector perform” rating in a report on Tuesday, June 30th. BMO Capital Markets decreased their price target on Metro from C$110.00 to C$105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, Canadian Imperial Bank of Commerce lowered their price objective on shares of Metro from C$101.00 to C$97.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Two 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, the company presently has a consensus rating of “Hold” and a consensus target price of C$103.62.

Metro Stock Down 0.3%

The company has a market capitalization of C$19.68 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 4.06 and a beta of 0.16. The firm’s 50-day simple moving average is C$90.79 and its 200 day simple moving average is C$93.78. The company has a debt-to-equity ratio of 69.30, a quick ratio of 0.41 and a current ratio of 1.43.

Metro (TSE:MRU) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported C$1.11 earnings per share (EPS) for the quarter. Metro had a net margin of 4.52% and a return on equity of 14.38%. The business had revenue of C$5.11 billion during the quarter. As a group, equities research analysts forecast that Metro Inc. will post 4.8188614 earnings per share for the current year.

Metro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, June 2nd were issued a $0.4075 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.63 annualized dividend and a yield of 1.7%. Metro’s dividend payout ratio is 32.36%.

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.