Metro (TSE:MRU) Hits New 12-Month High – Here’s Why

Metro Inc. (TSE:MRU) reached a new 52-week high during trading on Monday . The stock traded as high as C$95.31 and last traded at C$95.26, with a volume of 175288 shares trading hands. The stock had previously closed at C$92.73.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MRU shares. CIBC boosted their target price on Metro from C$86.00 to C$91.00 in a research report on Thursday, November 21st. Royal Bank of Canada cut Metro from a “moderate buy” rating to a “hold” rating in a report on Thursday, November 21st. Scotiabank upped their target price on shares of Metro from C$98.00 to C$100.00 in a research report on Thursday, January 30th. National Bankshares lifted their price target on shares of Metro from C$89.00 to C$94.00 and gave the stock a “sector perform” rating in a research report on Monday, January 13th. Finally, UBS Group increased their price objective on shares of Metro from C$98.00 to C$99.00 in a report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Metro presently has a consensus rating of “Hold” and a consensus price target of C$93.56.

Metro Stock Performance

The company has a quick ratio of 0.41, a current ratio of 1.35 and a debt-to-equity ratio of 62.29. The stock has a market cap of C$21.17 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 4.06 and a beta of 0.08. The stock’s fifty day moving average is C$91.14 and its 200-day moving average is C$87.64.

Metro Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, March 11th will be given a $0.37 dividend. The ex-dividend date is Thursday, February 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.55%. This is a boost from Metro’s previous quarterly dividend of $0.34. Metro’s dividend payout ratio is currently 30.93%.

Metro Company Profile

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.