MTY Food Group (TSE:MTY) Stock Price Up 11.8% – Here’s Why

MTY Food Group Inc. (TSE:MTY)’s stock price shot up 11.8% during mid-day trading on Monday . The company traded as high as C$37.72 and last traded at C$37.70. 249,413 shares changed hands during trading, an increase of 272% from the average session volume of 67,000 shares. The stock had previously closed at C$33.73.

Analyst Upgrades and Downgrades

MTY has been the topic of a number of research reports. Royal Bank Of Canada dropped their price target on shares of MTY Food Group from C$48.00 to C$45.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 14th. Scotiabank lowered their target price on MTY Food Group from C$45.00 to C$42.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 8th. National Bankshares dropped their target price on MTY Food Group from C$51.00 to C$43.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. Finally, TD Securities cut their price target on MTY Food Group from C$42.00 to C$37.00 and set a “hold” rating for the company in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, MTY Food Group has a consensus rating of “Hold” and a consensus price target of C$44.50.

MTY Food Group Stock Performance

The company has a debt-to-equity ratio of 142.67, a quick ratio of 0.57 and a current ratio of 0.61. The firm’s 50 day moving average is C$36.24 and its 200-day moving average is C$39.35. The firm has a market cap of C$874.13 million, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 0.75 and a beta of 1.27.

MTY Food Group (TSE:MTY) last posted its earnings results on Friday, October 10th. The company reported C$1.22 EPS for the quarter. MTY Food Group had a net margin of 8.30% and a return on equity of 11.66%. The firm had revenue of C$296.99 million for the quarter. Sell-side analysts anticipate that MTY Food Group Inc. will post 4.4909091 earnings per share for the current fiscal year.

MTY Food Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 14th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, November 4th. MTY Food Group’s dividend payout ratio (DPR) is presently 85.81%.

About MTY Food Group

MTY Food Group Inc is a franchisor in the quick service and casual dining food industry. Its activities consist of franchising and operating corporate-owned locations as well as the sale of retail products under a multitude of banners. The company’s operating segment is based on geographical regions namely Canada and US and International.