Metro (TSE:MRU) Cut to Sector Perform at Scotiabank

Metro (TSE:MRU) was downgraded by equities researchers at Scotiabank from an “outperform” rating to a “sector perform” rating in a research note issued on Thursday,BayStreet.CA reports. They presently have a C$103.00 price objective on the stock. Scotiabank’s target price suggests a potential upside of 8.86% from the company’s current price.

A number of other analysts have also recently issued reports on MRU. BMO Capital Markets lowered their price objective on Metro from C$115.00 to C$110.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 28th. Desjardins lowered their price objective on Metro from C$105.00 to C$99.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. TD Securities lowered their price objective on Metro from C$118.00 to C$113.00 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. Canadian Imperial Bank of Commerce lowered their price objective on Metro from C$105.00 to C$101.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 28th. Finally, Royal Bank Of Canada boosted their price objective on Metro from C$112.00 to C$113.00 and gave the company a “sector perform” rating in a research report on Friday, January 23rd. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$106.25.

Metro Stock Performance

Shares of MRU stock traded down C$3.42 during trading hours on Thursday, reaching C$94.62. 364,543 shares of the company’s stock were exchanged, compared to its average volume of 514,575. Metro has a fifty-two week low of C$89.64 and a fifty-two week high of C$109.20. The stock has a market capitalization of C$20.17 billion, a P/E ratio of 20.93, a P/E/G ratio of 4.06 and a beta of 0.34. The business has a fifty day moving average price of C$95.63 and a 200-day moving average price of C$96.33. The company has a quick ratio of 0.41, a current ratio of 1.42 and a debt-to-equity ratio of 69.33.

Metro (TSE:MRU) last released its quarterly earnings data on Tuesday, January 27th. The company reported C$1.16 earnings per share (EPS) for the quarter. The business had revenue of C$5.29 billion for the quarter. Metro had a return on equity of 13.93% and a net margin of 4.44%. Analysts predict that Metro will post 4.8188614 EPS for the current fiscal year.

Insider Buying and Selling

In other Metro news, insider Genevi�Ve Bich sold 4,418 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of C$91.13, for a total value of C$402,612.34. Following the sale, the insider directly owned 35,677 shares in the company, valued at C$3,251,245.01. This represents a 11.02% decrease in their ownership of the stock. Also, insider Richard Pruneau sold 2,018 shares of the company’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of C$90.87, for a total value of C$183,375.66. Following the completion of the sale, the insider owned 12,433 shares in the company, valued at C$1,129,786.71. This trade represents a 13.96% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 11,844 shares of company stock valued at $1,096,119. 0.14% of the stock is currently owned by insiders.

Metro Company Profile

Metro is one of the largest grocery retailers in Canada. With its 2018 acquisition of Jean Coutu, it also boasts a meaningful drugstore footprint. Noteworthy grocery banners include Metro, Metro Plus, Super C, and Food Basics, while its pharmacies primarily operate under the Jean Coutu and Brunet trademarks. It utilizes an array of business models, but it most frequently acts as either a retailer, operating individual stores, or a franchiser, licensing its trademarks and supplying merchandise to franchisees.