CIBC Upgrades MTY Food Group (TSE:MTY) to Outperform

Posted by on Jul 13th, 2023

CIBC upgraded shares of MTY Food Group (TSE:MTY – Free Report) from a neutral rating to an outperform rating in a report published on Wednesday morning, BayStreet.CA reports. They currently have C$75.00 target price on the stock, up from their previous target price of C$69.00.

A number of other equities analysts also recently weighed in on MTY. Royal Bank of Canada lifted their target price on shares of MTY Food Group from C$69.00 to C$71.00 and gave the stock a sector perform rating in a research note on Wednesday. Raymond James boosted their price objective on MTY Food Group from C$65.00 to C$66.00 and gave the company a market perform rating in a research note on Thursday, April 13th. Finally, National Bankshares raised their target price on MTY Food Group from C$69.00 to C$70.00 in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, MTY Food Group presently has a consensus rating of Hold and an average price target of C$71.83.

MTY Food Group Price Performance

Shares of MTY opened at C$66.20 on Wednesday. The business has a 50-day moving average of C$59.39 and a 200-day moving average of C$61.62. The company has a debt-to-equity ratio of 183.57, a current ratio of 0.60 and a quick ratio of 0.57. The company has a market capitalization of C$1.62 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 0.75 and a beta of 1.84. MTY Food Group has a 1 year low of C$49.50 and a 1 year high of C$73.50.

MTY Food Group (TSE:MTY – Get Free Report) last released its quarterly earnings results on Wednesday, April 12th. The company reported C$0.75 earnings per share (EPS) for the quarter. MTY Food Group had a net margin of 8.88% and a return on equity of 11.10%. The firm had revenue of C$286.00 million during the quarter, compared to analyst estimates of C$282.70 million. As a group, equities research analysts anticipate that MTY Food Group will post 3.6607595 earnings per share for the current year.

MTY Food Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Wednesday, August 2nd will be paid a $0.25 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.51%. MTY Food Group’s dividend payout ratio (DPR) is presently 31.95%.

MTY Food Group Company Profile

(Get Free Report)

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.

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Analyst Recommendations for MTY Food Group (TSE:MTY)

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