Q2 2024 Earnings Forecast for Metro Inc. Issued By Desjardins (TSE:MRU)

Metro Inc. (TSE:MRU) – Research analysts at Desjardins dropped their Q2 2024 EPS estimates for Metro in a report issued on Monday, April 22nd. Desjardins analyst C. Li now forecasts that the company will post earnings of $0.88 per share for the quarter, down from their previous estimate of $0.90. The consensus estimate for Metro’s current full-year earnings is $4.26 per share. Desjardins also issued estimates for Metro’s Q3 2024 earnings at $1.39 EPS.

Metro (TSE:MRU) last posted its quarterly earnings results on Tuesday, January 30th. The company reported C$1.02 earnings per share for the quarter, topping the consensus estimate of C$0.99 by C$0.03. The business had revenue of C$4.97 billion during the quarter, compared to the consensus estimate of C$4.86 billion. Metro had a net margin of 4.81% and a return on equity of 15.00%.

Several other equities analysts also recently commented on the stock. BMO Capital Markets upped their price objective on shares of Metro from C$73.00 to C$75.00 in a research note on Wednesday, January 31st. Royal Bank of Canada lowered their price objective on shares of Metro from C$83.00 to C$82.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 31st. National Bankshares upped their price objective on shares of Metro from C$80.00 to C$81.00 and gave the company a “sector perform” rating in a research note on Monday, January 15th. TD Securities upped their price objective on shares of Metro from C$76.00 to C$78.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Finally, Scotiabank reduced their price target on shares of Metro from C$74.50 to C$74.00 and set a “sector perform” rating on the stock in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$77.14.

Metro Stock Performance

Metro stock opened at C$69.90 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 1.16 and a debt-to-equity ratio of 65.71. The company has a market capitalization of C$15.87 billion, a PE ratio of 16.00, a P/E/G ratio of 2.12 and a beta of 0.04. The firm has a fifty day simple moving average of C$72.18 and a two-hundred day simple moving average of C$70.61. Metro has a twelve month low of C$65.43 and a twelve month high of C$78.88.

Metro Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 12th were issued a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Wednesday, February 14th. This is a boost from Metro’s previous quarterly dividend of $0.30. Metro’s dividend payout ratio is 30.66%.

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.