Metro (TSE:MRU) Sets New 52-Week High – Here’s What Happened

Metro Inc. (TSE:MRU)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$97.29 and last traded at C$97.21, with a volume of 44819 shares. The stock had previously closed at C$96.66.

Wall Street Analysts Forecast Growth

MRU has been the topic of several analyst reports. National Bankshares lifted their target price on Metro from C$89.00 to C$94.00 and gave the company a “sector perform” rating in a research report on Monday, January 13th. UBS Group raised their price objective on Metro from C$98.00 to C$99.00 in a research note on Thursday, January 30th. BMO Capital Markets upgraded Metro from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from C$92.00 to C$96.00 in a research note on Thursday, January 30th. Finally, Scotiabank increased their target price on shares of Metro from C$98.00 to C$100.00 in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Metro has an average rating of “Hold” and a consensus target price of C$93.56.

Metro Price Performance

The company has a market cap of C$21.42 billion, a PE ratio of 22.36, a PEG ratio of 4.06 and a beta of 0.08. The company has a debt-to-equity ratio of 62.29, a current ratio of 1.35 and a quick ratio of 0.41. The stock’s 50-day moving average is C$93.00 and its 200 day moving average is C$89.42.

Metro Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, March 11th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.53%. This is a positive change from Metro’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, February 13th. Metro’s dividend payout ratio is presently 30.93%.

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.