Raymond James Brokers Reduce Earnings Estimates for MTY Food Group Inc. (TSE:MTY)

MTY Food Group Inc. (TSE:MTY) – Stock analysts at Raymond James decreased their Q2 2024 earnings per share estimates for MTY Food Group in a research note issued on Monday, April 15th. Raymond James analyst M. Glen now expects that the company will post earnings of $0.99 per share for the quarter, down from their prior estimate of $1.10. Raymond James currently has a “Market Perform” rating and a $60.00 target price on the stock. The consensus estimate for MTY Food Group’s current full-year earnings is $4.04 per share. Raymond James also issued estimates for MTY Food Group’s Q3 2024 earnings at $1.05 EPS, Q4 2024 earnings at $0.80 EPS, FY2024 earnings at $3.56 EPS and FY2025 earnings at $4.30 EPS.

MTY Food Group (TSE:MTY) last issued its quarterly earnings results on Friday, April 12th. The company reported C$0.71 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.83 by C($0.12). MTY Food Group had a return on equity of 13.23% and a net margin of 8.86%. The business had revenue of C$278.64 million for the quarter, compared to analysts’ expectations of C$263.20 million.

MTY has been the topic of a number of other research reports. Scotiabank dropped their target price on MTY Food Group from C$55.00 to C$50.00 and set a “sector perform” rating on the stock in a research report on Monday. National Bankshares lowered their price objective on MTY Food Group from C$59.00 to C$57.00 and set an “outperform” rating on the stock in a research report on Monday. CIBC lowered their price objective on MTY Food Group from C$62.00 to C$53.00 and set an “outperform” rating on the stock in a research report on Monday. TD Securities lowered their price objective on MTY Food Group from C$59.00 to C$49.00 and set a “hold” rating on the stock in a research report on Monday. Finally, Acumen Capital lowered their price objective on MTY Food Group from C$75.00 to C$65.00 and set a “buy” rating on the stock in a research report on Monday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$55.00.

MTY Food Group Price Performance

Shares of TSE MTY opened at C$45.83 on Tuesday. The business’s 50 day moving average price is C$51.92 and its 200 day moving average price is C$53.25. The firm has a market cap of C$1.11 billion, a P/E ratio of 10.78, a P/E/G ratio of 0.75 and a beta of 1.98. MTY Food Group has a 52 week low of C$44.48 and a 52 week high of C$68.60. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 154.98.

MTY Food Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, May 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, May 2nd. MTY Food Group’s payout ratio is 24.24%.

About MTY Food Group

MTY Food Group Inc operates and franchises quick-service, fast-casual, and casual dining restaurants in Canada, the United States, and internationally. It also sells retail products under a multitude of banners. The company was formerly known as iNsu Innovations Group Inc and changed its name to MTY Food Group Inc in July 2003.