Metro (TSE:MRU) Hits New 52-Week High – Here’s What Happened

Metro Inc. (TSE:MRU) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$97.29 and last traded at C$97.21, with a volume of 44819 shares trading hands. The stock had previously closed at C$96.66.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BMO Capital Markets upgraded shares of Metro from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from C$92.00 to C$96.00 in a report on Thursday, January 30th. UBS Group increased their target price on shares of Metro from C$98.00 to C$99.00 in a research report on Thursday, January 30th. National Bankshares lifted their price target on shares of Metro from C$89.00 to C$94.00 and gave the stock a “sector perform” rating in a report on Monday, January 13th. Finally, Scotiabank increased their price objective on Metro from C$98.00 to C$100.00 in a report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$93.56.

Metro Stock Up 0.9 %

The stock has a market capitalization of C$21.62 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 4.06 and a beta of 0.08. The company has a debt-to-equity ratio of 62.29, a current ratio of 1.35 and a quick ratio of 0.41. The business’s fifty day moving average price is C$93.28 and its two-hundred day moving average price is C$89.52.

Metro Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, March 11th were issued a $0.37 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This is a positive change from Metro’s previous quarterly dividend of $0.34. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.51%. Metro’s dividend payout ratio is currently 30.93%.

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.