Metro (MRU) Given New C$50.00 Price Target at Scotiabank
Metro (TSE:MRU) had its price objective trimmed by Scotiabank from C$51.00 to C$50.00 in a research report sent to investors on Wednesday. The brokerage currently has an outperform rating on the stock.
Separately, Raymond James lowered their target price on shares of Metro from C$48.00 to C$47.00 and set an outperform rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of C$46.90.
MRU opened at C$41.39 on Wednesday. Metro has a twelve month low of C$38.32 and a twelve month high of C$47.41.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Thursday, May 3rd will be issued a $0.18 dividend. This is a positive change from Metro’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, May 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.74%.
In other Metro news, insider Simon Rivet sold 10,800 shares of the stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of C$41.00, for a total transaction of C$442,800.00. Also, Director La Flèche Eric Richer sold 1,500 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of C$40.65, for a total transaction of C$60,975.00. In the last three months, insiders have sold 167,110 shares of company stock worth $6,688,329.
Metro Company Profile
Metro Inc operates as a retailer and distributor in the food and pharmaceutical sectors in Canada. It operates supermarkets, discount and drug stores, and food stores that provide grocery products, general merchandise, non-perishable goods, dairy products, prepared meals, fruits and vegetables, meats, and frozen foods.
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