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Maple Leaf Foods (TSE:MFI) Reaches New 1-Year Low on Analyst Downgrade

Defense World ·  {{timeTz}}

Maple Leaf Foods Inc. (TSE:MFI – Get Rating)'s stock price reached a new 52-week low on Friday after Royal Bank of Canada lowered their price target on the stock from C$42.00 to C$36.00. Royal Bank of Canada currently has an outperform rating on the stock. Maple Leaf Foods traded as low as C$21.70 and last traded at C$21.89, with a volume of 42042 shares. The stock had previously closed at C$22.33.

MFI has been the topic of several other reports. Scotiabank reduced their price target on Maple Leaf Foods from C$40.00 to C$34.00 in a report on Friday. CIBC reduced their target price on Maple Leaf Foods from C$41.00 to C$35.00 and set an "outperform" rating on the stock in a report on Friday. BMO Capital Markets reduced their target price on Maple Leaf Foods from C$36.00 to C$31.00 in a report on Friday. Finally, TD Securities reduced their target price on Maple Leaf Foods from C$45.00 to C$39.00 and set an "action list buy" rating on the stock in a report on Friday. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of C$35.00.

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Insiders Place Their Bets

In other Maple Leaf Foods news, Senior Officer Curtis Eugene Frank purchased 3,218 shares of the business's stock in a transaction on Thursday, June 30th. The shares were purchased at an average cost of C$25.32 per share, for a total transaction of C$81,479.76. Following the acquisition, the insider now owns 3,218 shares of the company's stock, valued at C$81,479.76. In other Maple Leaf Foods news, Senior Officer Bentley Andrew Brooks sold 9,997 shares of the stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of C$27.40, for a total transaction of C$273,917.80. Following the transaction, the insider now directly owns 21,973 shares in the company, valued at approximately C$602,060.20. Also, Senior Officer Curtis Eugene Frank purchased 3,218 shares of the business's stock in a transaction on Thursday, June 30th. The shares were acquired at an average price of C$25.32 per share, for a total transaction of C$81,479.76. Following the completion of the acquisition, the insider now directly owns 3,218 shares in the company, valued at approximately C$81,479.76.

Maple Leaf Foods Price Performance

The company has a quick ratio of 0.48, a current ratio of 1.55 and a debt-to-equity ratio of 73.88. The business has a 50-day moving average price of C$26.14 and a two-hundred day moving average price of C$28.08. The company has a market capitalization of C$2.73 billion and a price-to-earnings ratio of 39.78.

Maple Leaf Foods (TSE:MFI – Get Rating) last issued its earnings results on Wednesday, May 4th. The company reported C$0.03 earnings per share for the quarter. The firm had revenue of C$1.13 billion for the quarter. As a group, research analysts anticipate that Maple Leaf Foods Inc. will post 2.2000002 EPS for the current year.

Maple Leaf Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 8th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Wednesday, September 7th. Maple Leaf Foods's payout ratio is 134.55%.

Maple Leaf Foods Company Profile

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Maple Leaf Foods Inc produces food products in the United States, Canada, Japan, China, and internationally. It produces various food products, including prepared meats, ready-to-cook and ready-to-serve meals, snacks kits, fresh pork and poultry, and plant protein products. The company offers its products under various brands, including Maple Leaf, Schneiders, Greenfield Natural Meat Co, Swift, Prime, Maple Leaf Natural Selections, Mina, Big Stick, Cappola, Deli Express, Field Roast Grain Meat Co, Holiday, Hygrade, Larsen, Lightlife, Lunch Mate, Main Street Deli, Maple Leaf Foodservice, Mitchell's, Olympic Craft Meats, Parma, Shopsy's, Sunrise, and Swift.

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