CIBC Forecasts Strong Price Appreciation for Metro (TSE:MRU) Stock

Metro (TSE:MRU) had its price target hoisted by CIBC from C$91.00 to C$106.00 in a report released on Thursday morning,BayStreet.CA reports.

MRU has been the topic of a number of other research reports. BMO Capital Markets raised their target price on shares of Metro from C$96.00 to C$110.00 in a research note on Friday, April 4th. Royal Bank of Canada raised their price objective on Metro from C$90.00 to C$98.00 in a research report on Monday. UBS Group upped their target price on Metro from C$99.00 to C$105.00 in a research report on Thursday. National Bankshares increased their target price on Metro from C$94.00 to C$102.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 2nd. Finally, Scotiabank boosted their price target on Metro from C$98.00 to C$100.00 in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Metro has an average rating of “Hold” and a consensus price target of C$102.00.

Metro Stock Up 0.9 %

MRU opened at C$102.08 on Thursday. Metro has a 1 year low of C$69.19 and a 1 year high of C$103.59. The firm has a 50 day moving average price of C$95.98 and a 200 day moving average price of C$91.14. The company has a debt-to-equity ratio of 62.29, a quick ratio of 0.41 and a current ratio of 1.35. The company has a market cap of C$22.58 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 4.06 and a beta of 0.08.

Metro Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, February 13th. This is an increase from Metro’s previous quarterly dividend of $0.34. This represents a $1.48 annualized dividend and a yield of 1.45%. Metro’s 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.