Scotia Has Lowered Expectations for Metro (TSE:MRU) Stock Price

Metro (TSE:MRU) had its price target decreased by research analysts at Scotia from C$103.00 to C$96.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotia’s target price suggests a potential upside of 6.65% from the company’s current price.

Several other equities research analysts have also issued reports on MRU. Scotiabank lowered shares of Metro from an “outperform” rating to a “hold” rating and set a C$103.00 price target for the company. in a research note on Thursday, April 9th. Canadian Imperial Bank of Commerce decreased their price target on shares of Metro from C$101.00 to C$97.00 and set a “neutral” rating for the company in a research note on Thursday. BMO Capital Markets decreased their price target on shares of Metro from C$110.00 to C$105.00 and set an “outperform” rating for the company in a research note on Thursday. National Bank Financial decreased their price target on shares of Metro from C$106.00 to C$105.00 and set a “sector perform” rating for the company in a research note on Thursday. Finally, Royal Bank Of Canada raised their price target on shares of Metro from C$112.00 to C$113.00 and gave the stock a “sector perform” rating in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$103.63.

Metro Stock Performance

Shares of MRU stock traded down C$0.34 during trading hours on Thursday, hitting C$90.01. 241,381 shares of the company were exchanged, compared to its average volume of 529,125. The firm has a fifty day simple moving average of C$95.34 and a 200 day simple moving average of C$96.29. The company has a current ratio of 1.42, a quick ratio of 0.41 and a debt-to-equity ratio of 69.33. Metro has a 52-week low of C$89.30 and a 52-week high of C$109.20. The stock has a market capitalization of C$19.19 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 4.06 and a beta of 0.34.

Metro (TSE:MRU) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported C$1.11 earnings per share (EPS) for the quarter. Metro had a net margin of 4.44% and a return on equity of 13.93%. The company had revenue of C$5.11 billion during the quarter. Research analysts predict that Metro will post 4.8188614 earnings per share for the current fiscal year.

Insider Buying and Selling at Metro

In related news, insider Richard Pruneau sold 2,018 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider directly owned 12,433 shares of the company’s stock, valued at approximately C$1,129,786.71. This trade represents a 13.96% decrease in their position. Also, insider Paolo Bravi sold 2,430 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of C$91.46, for a total transaction of C$222,247.80. Following the completion of the transaction, the insider directly owned 19,730 shares of the company’s stock, valued at approximately C$1,804,505.80. This trade represents a 10.97% decrease in their ownership of the stock. Insiders sold a total of 11,844 shares of company stock valued at $1,096,119 in the last quarter. Corporate insiders own 0.14% of the company’s stock.

About Metro

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.