Research Analysts Offer Predictions for MTY Food Group Inc.’s FY2024 Earnings (TSE:MTY)

MTY Food Group Inc. (TSE:MTY) – Equities research analysts at National Bank Financial lowered their FY2024 earnings per share (EPS) estimates for MTY Food Group in a report released on Sunday, April 14th. National Bank Financial analyst V. Shreedhar now expects that the company will post earnings per share of $3.50 for the year, down from their previous forecast of $3.55. The consensus estimate for MTY Food Group’s current full-year earnings is $4.04 per share.

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

A number of other equities research analysts have also commented on the company. Scotiabank dropped their price target 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. Acumen Capital decreased their price target on MTY Food Group from C$75.00 to C$65.00 and set a “buy” rating for the company in a research note on Monday. Raymond James reduced their target price on MTY Food Group from C$60.00 to C$55.00 in a research note on Tuesday. TD Securities reduced their target price on MTY Food Group from C$59.00 to C$49.00 and set a “hold” rating for the company in a research note on Monday. Finally, CIBC dropped their price target on MTY Food Group from C$62.00 to C$53.00 and set an “outperform” rating for the company in a report on Monday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$54.29.

MTY Food Group Trading Down 0.4 %

TSE:MTY opened at C$46.79 on Tuesday. The firm has a market capitalization of C$1.13 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.75 and a beta of 1.98. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 154.98. The business’s 50-day moving average price is C$51.47 and its two-hundred day moving average price is C$53.09. MTY Food Group has a 1-year low of C$44.48 and a 1-year high of C$68.60.

MTY Food Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, May 3rd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 2.39%. MTY Food Group’s dividend payout ratio is currently 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.