MTY Food Group (TSE:MTY) Reaches New 12-Month Low – Here’s What Happened

MTY Food Group Inc. (TSE:MTY) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as C$32.21 and last traded at C$32.27, with a volume of 129200 shares. The stock had previously closed at C$32.85.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Royal Bank Of Canada reduced their target price on MTY Food Group from C$46.00 to C$41.00 and set a “sector perform” rating on the stock in a report on Monday, July 13th. Raymond James Financial dropped their price target on shares of MTY Food Group from C$45.00 to C$40.00 and set a “market perform” rating on the stock in a research report on Monday, July 13th. TD Securities raised shares of MTY Food Group to a “hold” rating in a research note on Monday, July 13th. Acumen Capital decreased their price objective on shares of MTY Food Group from C$50.00 to C$48.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Finally, TD decreased their price objective on shares of MTY Food Group from C$42.00 to C$38.00 and set a “hold” rating for the company in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$42.50.

MTY Food Group Stock Up 2.4%

The firm has a market cap of C$759.01 million, a price-to-earnings ratio of 6.75, a PEG ratio of 0.75 and a beta of 1.00. The firm has a 50 day moving average of C$37.47 and a 200 day moving average of C$39.32. The company has a quick ratio of 0.56, a current ratio of 0.73 and a debt-to-equity ratio of 123.64.

MTY Food Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, August 14th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $1.48 annualized dividend and a dividend yield of 4.5%. MTY Food Group’s dividend payout ratio (DPR) is 28.46%.

About MTY Food Group

MTY Group franchises and operates quick-service, fast casual and casual dining restaurants over 80 different banners in Canada, the US and Internationally. Based in Montreal, MTY is a family whose heart beats to the rhythm of its brands, the very soul of its multi-branded strategy. For over 45 years, it has been increasing its presence by delivering new concepts of restaurants, making acquisitions, and forging strategic alliances, which have allowed it to reach new heights year after year. By combining new trends with operational know-how, the brands forming the MTY Group now touch the lives of millions of people every year.