Metro Inc. Expected to Earn Q3 2024 Earnings of $1.38 Per Share (TSE:MRU)

Metro Inc. (TSE:MRU) – Equities researchers at Desjardins decreased their Q3 2024 earnings per share estimates for Metro in a note issued to investors on Wednesday, April 24th. Desjardins analyst C. Li now expects that the company will post earnings per share of $1.38 for the quarter, down from their prior forecast of $1.39. Desjardins has a “Hold” rating and a $75.00 price objective on the stock. The consensus estimate for Metro’s current full-year earnings is $4.26 per share.

Several other research analysts also recently commented on the company. BMO Capital Markets lifted their price objective on Metro from C$73.00 to C$75.00 in a report on Wednesday, January 31st. Royal Bank of Canada decreased their price objective on Metro from C$83.00 to C$82.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 31st. Scotiabank decreased their price objective on Metro from C$74.50 to C$74.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. CIBC lifted their price objective on Metro from C$76.00 to C$77.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Finally, TD Securities lifted their price objective on Metro from C$78.00 to C$80.00 in a report on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Metro presently has an average rating of “Hold” and a consensus target price of C$77.86.

Metro Trading Down 0.7 %

TSE MRU opened at C$70.42 on Monday. The company has a market capitalization of C$15.99 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 2.12 and a beta of 0.04. The stock’s 50-day simple moving average is C$72.17 and its two-hundred day simple moving average is C$70.57. The company has a quick ratio of 0.41, a current ratio of 1.16 and a debt-to-equity ratio of 65.71. Metro has a twelve month low of C$65.43 and a twelve month high of C$78.88.

Metro (TSE:MRU) last released its quarterly earnings results on Wednesday, April 24th. The company reported C$0.91 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.91. Metro had a return on equity of 15.00% and a net margin of 4.81%. The business had revenue of C$4.66 billion for the quarter, compared to the consensus estimate of C$4.63 billion.

Metro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Wednesday, May 15th will be paid a $0.335 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.34 annualized dividend and a dividend yield of 1.90%. Metro’s payout ratio is presently 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.