CIBC Lowers Maple Leaf Foods (TSE:MFI) Price Target to C$31.00

Maple Leaf Foods (TSE:MFI) had its price objective lowered by CIBC from C$32.00 to C$31.00 in a research note released on Friday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

MFI has been the topic of a number of other reports. National Bankshares set a C$29.00 price target on shares of Maple Leaf Foods and gave the stock an outperform rating in a research report on Monday, April 22nd. BMO Capital Markets dropped their target price on Maple Leaf Foods from C$31.00 to C$29.00 in a research report on Friday, February 23rd. TD Securities downgraded shares of Maple Leaf Foods from an action list buy rating to a buy rating and reduced their price target for the company from C$40.00 to C$31.00 in a report on Friday, February 23rd. Scotiabank lowered their price target on Maple Leaf Foods from C$37.50 to C$33.50 and set an outperform rating on the stock in a report on Friday, February 23rd. Finally, Canaccord Genuity Group dropped their price target on shares of Maple Leaf Foods from C$35.00 to C$30.00 and set a buy rating on the stock in a research report on Friday, February 23rd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Maple Leaf Foods presently has a consensus rating of Buy and an average target price of C$30.07.

Maple Leaf Foods Price Performance

MFI stock opened at C$23.46 on Friday. The stock’s 50 day moving average price is C$23.30 and its 200 day moving average price is C$24.71. The firm has a market cap of C$2.88 billion, a P/E ratio of -22.78, a PEG ratio of 18.07 and a beta of 0.48. The company has a debt-to-equity ratio of 140.69, a quick ratio of 0.54 and a current ratio of 1.17. Maple Leaf Foods has a 1 year low of C$21.52 and a 1 year high of C$31.63.

Maple Leaf Foods (TSE:MFI) last announced its quarterly earnings results on Thursday, February 22nd. The company reported C$0.08 earnings per share for the quarter. The firm 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%. On average, sell-side analysts expect that Maple Leaf Foods will post 0.994288 earnings per share for the current fiscal year.

Maple Leaf Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Thursday, June 6th. Maple Leaf Foods’s payout ratio is -85.44%.

About Maple Leaf Foods

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.