Raymond James Comments on MTY Food Group Inc.’s Q2 2024 Earnings (TSE:MTY)

MTY Food Group Inc. (TSE:MTY) – Analysts at Raymond James cut their Q2 2024 earnings per share (EPS) estimates for MTY Food Group in a research note issued on Monday, April 15th. Raymond James analyst M. Glen now forecasts that the company will earn $0.99 per share for the quarter, down from their previous forecast of $1.10. The consensus estimate for MTY Food Group’s current full-year earnings is $4.04 per share. Raymond James also issued estimates for MTY Food Group’s Q3 2024 earnings at $1.05 EPS, Q4 2024 earnings at $0.80 EPS, FY2024 earnings at $3.56 EPS and FY2025 earnings at $4.30 EPS.

MTY Food Group (TSE:MTY) last announced its quarterly earnings data 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 firm had revenue of C$278.64 million for the quarter, compared to the consensus estimate of C$263.20 million.

Several other equities analysts have also weighed in on MTY. Acumen Capital reduced their price objective on MTY Food Group from C$75.00 to C$65.00 and set a “buy” rating for the company in a report on Monday. TD Securities reduced their price objective on MTY Food Group from C$59.00 to C$49.00 and set a “hold” rating for the company in a report on Monday. Royal Bank of Canada dropped their target price on MTY Food Group from C$58.00 to C$51.00 and set a “sector perform” rating on the stock in a research report on Monday. Scotiabank dropped their target price 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. Finally, CIBC dropped their target price on MTY Food Group from C$62.00 to C$53.00 and set an “outperform” rating on the stock in a research report on Monday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$54.29.

MTY Food Group Price Performance

Shares of TSE MTY opened at C$46.79 on Tuesday. The stock has a fifty day simple moving average of C$51.47 and a two-hundred day simple moving average of C$53.09. MTY Food Group has a 1-year low of C$44.48 and a 1-year high of C$68.60. The firm has a market cap of C$1.13 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth 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.

MTY Food Group Dividend Announcement

The firm 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 $0.28 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.39%. MTY Food Group’s dividend payout ratio (DPR) is presently 24.24%.

MTY Food Group Company Profile

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.