MTY Food Group (TSE:MTY) Trading 11.8% Higher – Here’s Why

MTY Food Group Inc. (TSE:MTY)’s share price traded 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 were traded during mid-day trading, an increase of 272% from the average session volume of 67,000 shares. The stock had previously closed at C$33.73.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MTY shares. Raymond James Financial dropped their price objective on shares of MTY Food Group from C$50.00 to C$44.00 in a research report on Wednesday. TD Securities dropped their target price on MTY Food Group from C$42.00 to C$37.00 and set a “hold” rating on the stock in a report on Tuesday, October 14th. Royal Bank Of Canada cut their target price on MTY Food Group from C$48.00 to C$45.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 14th. Scotiabank increased their price target on shares of MTY Food Group from C$39.00 to C$41.00 in a research note on Tuesday. Finally, National Bankshares reduced their price objective on shares of MTY Food Group from C$51.00 to C$43.00 and set an “outperform” rating for the company in a research report on Tuesday, October 14th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$43.33.

MTY Food Group Price Performance

The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 142.67. The firm has a market capitalization of C$791.21 million, a price-to-earnings ratio of 23.41, a P/E/G ratio of 0.75 and a beta of 1.27. The company has a fifty day moving average price of C$36.16 and a two-hundred day moving average price of C$39.26.

MTY Food Group (TSE:MTY) last released its quarterly 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 during the quarter. On average, equities research analysts expect that MTY Food Group Inc. will post 4.4909091 EPS for the current fiscal year.

MTY Food Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 14th were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, November 4th. This represents a $1.32 annualized dividend and a dividend yield of 3.8%. MTY Food Group’s dividend payout ratio is 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.