Scotiabank Trims Maple Leaf Foods (TSE:MFI) Target Price to C$31.50

Maple Leaf Foods (TSE:MFI) had its target price decreased by Scotiabank from C$33.50 to C$31.50 in a research report sent to investors on Friday, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Several other research firms have also weighed in on MFI. National Bankshares set a C$29.00 price objective on shares of Maple Leaf Foods and gave the company an outperform rating in a research note on Monday, April 22nd. Royal Bank of Canada cut their price objective on Maple Leaf Foods from C$32.00 to C$29.00 and set an outperform rating for the company in a report on Friday, February 23rd. CIBC lowered their target price on Maple Leaf Foods from C$32.00 to C$31.00 and set an outperform rating on the stock in a research note on Friday. BMO Capital Markets cut their price target on Maple Leaf Foods from C$31.00 to C$29.00 in a research note on Friday, February 23rd. Finally, TD Securities downgraded Maple Leaf Foods from an action list buy rating to a buy rating and dropped their price objective for the stock from C$40.00 to C$31.00 in a report on Friday, February 23rd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of C$30.07.

Maple Leaf Foods Stock Performance

MFI opened at C$23.73 on Friday. The business has a fifty day simple moving average of C$23.29 and a 200-day simple moving average of C$24.72. The firm has a market cap of C$2.91 billion, a PE ratio of -23.04, a P/E/G ratio of 18.07 and a beta of 0.48. The company has a quick ratio of 0.54, a current ratio of 1.17 and a debt-to-equity ratio of 140.69. Maple Leaf Foods has a fifty-two week low of C$21.52 and a fifty-two week high of C$31.63.

Maple Leaf Foods (TSE:MFI) last issued its quarterly earnings results on Thursday, February 22nd. The company reported C$0.08 EPS for the quarter. The business had revenue of C$1.19 billion during the quarter. Maple Leaf Foods had a negative net margin of 2.57% and a negative return on equity of 7.86%. As a group, equities analysts predict that Maple Leaf Foods will post 0.994288 EPS for the current fiscal year.

Maple Leaf Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be issued a $0.22 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.88 annualized dividend and a yield of 3.71%. Maple Leaf Foods’s dividend payout ratio (DPR) is currently -85.44%.

Maple Leaf Foods Company Profile

Maple Leaf Foods Inc produces food products in the United States, Canada, Japan, China, and internationally. The company operates through Meat Protein Group and Plant Protein Group segments. It produces various food products, including prepared meats, ready-to-cook and ready-to-serve meals, fresh pork and poultry, and plant protein products; bacon, hams, wieners, and meat snacks; a variety of delicatessen products; and processed chicken products, such as fully cooked chicken breasts and wings, processed turkey products, specialty sausages, cooked meats, sliced meats, cooked sausage products, lunch kits, and canned meats.