Q2 2024 EPS Estimates for Metro Inc. Reduced by Desjardins (TSE:MRU)

Metro Inc. (TSE:MRU) – Stock analysts at Desjardins cut their Q2 2024 earnings estimates for Metro in a research note issued to investors on Monday, April 22nd. Desjardins analyst C. Li now forecasts that the company will post earnings of $0.88 per share for the quarter, down from their prior forecast of $0.90. The consensus estimate for Metro’s current full-year earnings is $4.26 per share. Desjardins also issued estimates for Metro’s Q3 2024 earnings at $1.39 EPS.

Several other equities analysts have also weighed in on MRU. TD Securities increased their price objective on shares of Metro from C$76.00 to C$78.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Scotiabank lowered their price target on shares of Metro from C$74.50 to C$74.00 and set a “sector perform” rating on the stock in a report on Monday. BMO Capital Markets boosted their price objective on Metro from C$73.00 to C$75.00 in a report on Wednesday, January 31st. National Bankshares upped their target price on Metro from C$80.00 to C$81.00 and gave the company a “sector perform” rating in a research report on Monday, January 15th. Finally, Royal Bank of Canada lowered their target price on Metro from C$83.00 to C$82.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 31st. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$77.14.

Metro Stock Up 0.5 %

MRU opened at C$70.28 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.41 and a debt-to-equity ratio of 65.71. The stock’s fifty day simple moving average is C$72.19 and its 200 day simple moving average is C$70.61. Metro has a 1-year low of C$65.43 and a 1-year high of C$78.88. The stock has a market cap of C$15.96 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 2.12 and a beta of 0.04.

Metro (TSE:MRU) last released its quarterly earnings data on Tuesday, January 30th. The company reported C$1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.99 by C$0.03. The company had revenue of C$4.97 billion during the quarter, compared to analysts’ expectations of C$4.86 billion. Metro had a return on equity of 15.00% and a net margin of 4.81%.

Metro Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 1.91%. This is an increase from Metro’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 14th. Metro’s dividend payout ratio is presently 30.66%.

About Metro

Metro Inc, through its subsidiaries, operates as a retailer, franchisor, distributor, and manufacturer in the food and pharmaceutical sectors in Canada. The company operates supermarkets, discount, neighborhood, and specialty stores that provide fresh and grocery products, baked goods, prepared food products, meats, dairy products, fruits and vegetables, frozen food products, bakery products, delicatessen items, and pastries.