MTY Food Group Inc. (TSE:MTY) Stock Has Consensus Price Target of C$41.12 According to Analysts

MTY Food Group Inc. (TSE:MTY) has been given a consensus recommendation of “Hold” by the eight research firms that are currently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is C$41.12.

A number of research firms recently commented on MTY. TD Securities upgraded MTY Food Group to a “hold” rating in a research report on Monday, July 13th. National Bank Financial cut their price objective on MTY Food Group from C$40.00 to C$37.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 13th. TD set a C$38.00 price objective on MTY Food Group and gave the company a “hold” rating in a research report on Thursday, October 8th. Scotia lowered their target price on MTY Food Group from C$45.00 to C$40.00 and set a “sector perform” rating on the stock in a report on Monday, July 13th. Finally, Acumen Capital cut their price objective on MTY Food Group from C$50.00 to C$48.00 and set a “buy” rating for the company in a research report on Monday, July 13th.

MTY Food Group Stock Up 11.0%

MTY stock opened at C$36.35 on Wednesday. The company’s 50 day moving average is C$32.59 and its 200 day moving average is C$37.11. MTY Food Group has a 1-year low of C$28.12 and a 1-year high of C$45.90. The company has a current ratio of 0.75, a quick ratio of 0.56 and a debt-to-equity ratio of 117.99. The stock has a market cap of C$830.27 million, a price-to-earnings ratio of 7.59, a price-to-earnings-growth ratio of 0.75 and a beta of 0.98.

MTY Food Group (TSE:MTY) last posted its earnings results on Friday, October 9th. The company reported C$1.26 earnings per share (EPS) for the quarter. MTY Food Group had a return on equity of 12.54% and a net margin of 9.67%. The company had revenue of C$277.73 million for the quarter. Sell-side analysts predict that MTY Food Group will post 4.49 EPS for the current fiscal year.

MTY Food Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, November 3rd. This is a positive change from MTY Food Group’s previous quarterly dividend of $0.37. This represents a $2.00 annualized dividend and a dividend yield of 5.5%. MTY Food Group’s dividend payout ratio is 30.06%.

MTY Food Group News Summary

Here are the key news stories impacting MTY Food Group this week:

• Positive Sentiment: Foodtastic’s proposed C$43-per-share offer valued MTY at nearly C$1 billion and was a potential premium to the trading price, prompting takeover interest. Foodtastic Proposes to Acquire MTY Food Group for $43 Per Share in near $1-billion deal
• Positive Sentiment: MTY raised its dividend, which may appeal to income-focused investors and signals continued shareholder distributions. MTY Food Group Just Raised Its Dividend
• Neutral Sentiment: MTY reportedly replaced its CEO amid the takeover developments; the longer-term effect of the leadership change is not yet clear. Foodtastic makes takeover offer for MTY Food Group; MTY replaces CEO
• Negative Sentiment: MTY rejected Foodtastic’s proposal, and a later report said Foodtastic cancelled the approximately C$980 million acquisition. The loss of a near-term takeover catalyst may weigh on shares and leaves uncertainty about whether another offer will emerge. Foodtastic cancelled the acquisition of MTY Food Group

MTY Food Group Company Profile

MTY Group franchises and operates quick-service, fast casual and casual dining restaurants over 80 different banners in Canada, the US and Internationally. Based in Montreal, MTY is a family whose heart beats to the rhythm of its brands, the very soul of its multi-branded strategy. For over 45 years, it has been increasing its presence by delivering new concepts of restaurants, making acquisitions, and forging strategic alliances, which have allowed it to reach new heights year after year. By combining new trends with operational know-how, the brands forming the MTY Group now touch the lives of millions of people every year.