Royal Bank of Canada Issues Positive Forecast for Maple Leaf Foods (TSE:MFI) Stock Price

Maple Leaf Foods (TSE:MFI) had its price target increased by Royal Bank of Canada from C$29.00 to C$30.00 in a research note published on Wednesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on MFI. Canaccord Genuity Group upped their price objective on shares of Maple Leaf Foods from C$30.00 to C$32.00 and gave the company a “buy” rating in a research note on Monday, January 13th. CIBC upped their price objective on shares of Maple Leaf Foods from C$30.00 to C$32.00 and gave the company an “outperform” rating in a research note on Wednesday. National Bankshares upped their price objective on shares of Maple Leaf Foods from C$26.00 to C$27.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, TD Securities cut their price objective on shares of Maple Leaf Foods from C$35.00 to C$34.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$31.08.

Maple Leaf Foods Price Performance

Shares of Maple Leaf Foods stock opened at C$25.86 on Wednesday. Maple Leaf Foods has a 52-week low of C$19.61 and a 52-week high of C$25.96. The stock has a market capitalization of C$3.24 billion, a price-to-earnings ratio of 95.43, a price-to-earnings-growth ratio of 18.07 and a beta of 0.47. The company has a fifty day moving average of C$21.12 and a 200-day moving average of C$21.97. The company has a debt-to-equity ratio of 130.19, a quick ratio of 0.54 and a current ratio of 1.26.

Maple Leaf Foods Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.88 annualized dividend and a yield of 3.40%. Maple Leaf Foods’s payout ratio is currently 324.76%.

Maple Leaf Foods Company Profile

Maple Leaf Foods Inc is a consumer-packaged meats company. It produces prepared meats and meals, fresh pork, and poultry and turkey products. The company also has agribusiness operations. These operations supply livestock to the meat products business operations. Its main markets are Canada, the United States, Japan, and China.