Canadian Imperial Bank of Commerce Reiterates C$112.00 Price Target for Metro (TSE:MRU)

by · The Markets Daily

Canadian Imperial Bank of Commerce set a C$112.00 price objective on Metro (TSE:MRU – Free Report) in a research note issued to investors on Thursday, MarketBeat reports. The firm currently has an outperformer rating on the stock.

Several other equities research analysts also recently commented on MRU. National Bank Financial lowered their target price on shares of Metro from C$105.00 to C$102.00 and set a “sector perform” rating on the stock in a report on Thursday, August 13th. BMO Capital Markets cut shares of Metro from an “outperform” rating to a “hold” rating and dropped their target price for the stock from C$105.00 to C$95.00 in a research report on Monday, July 20th. Royal Bank Of Canada dropped their target price on shares of Metro from C$111.00 to C$110.00 and set a “sector perform” rating for the company in a research report on Thursday, August 13th. TD lifted their price target on shares of Metro from C$106.00 to C$108.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, TD Securities upgraded shares of Metro to a “strong-buy” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$104.00.

View Our Latest Analysis on Metro

Metro Stock Performance

Shares of TSE:MRU opened at C$96.33 on Thursday. The business’s fifty day moving average price is C$90.82 and its two-hundred day moving average price is C$91.20. Metro has a fifty-two week low of C$86.63 and a fifty-two week high of C$101.30. The stock has a market capitalization of C$20.16 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 4.06 and a beta of 0.12. The company has a debt-to-equity ratio of 71.09, a current ratio of 1.43 and a quick ratio of 0.41.

Metro (TSE:MRU – Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported C$1.24 earnings per share (EPS) for the quarter. The firm had revenue of C$6.97 billion during the quarter. Metro had a return on equity of 12.87% and a net margin of 4.00%. As a group, analysts predict that Metro will post 4.82 EPS for the current fiscal year.

Metro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Tuesday, November 10th will be issued a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, October 22nd. Metro’s dividend payout ratio (DPR) is currently 36.94%.

Insiders Place Their Bets

In other Metro news, insider Simon Rivet sold 2,650 shares of Metro stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of C$89.35, for a total value of C$236,777.50. Following the completion of the transaction, the insider owned 20,225 shares in the company, valued at approximately C$1,807,103.75. The trade was a 11.58% decrease in their position. Also, insider Alain Tadros sold 960 shares of Metro stock in a transaction on Friday, September 4th. The shares were sold at an average price of C$90.27, for a total value of C$86,659.20. Following the completion of the transaction, the insider owned 5,952 shares of the company’s stock, valued at approximately C$537,287.04. The trade was a 13.89% decrease in their position. Company insiders own 0.14% of the company’s stock.

About Metro

(Get Free Report)

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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