06:08:26 EDT Sat 04 May 2024
Enter Symbol
or Name
USA
CA



MTY Food Group Inc
Symbol MTY
Shares Issued 24,220,161
Close 2024-04-15 C$ 45.83
Market Cap C$ 1,110,009,979
Recent Sedar Documents

Globe says cost containment seen as notable at MTY Food

2024-04-16 07:57 ET - In the News

The Globe and Mail reports in its Tuesday, April 16, edition that Scotia Capital analyst George Doumet continues to rate MTY Food Group "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Doumet gave his share target a $5 trim to $50. Analysts on average target the shares at $56.43. Mr. Doumet says in a note: "MTY Food Group reported another soft quarter driven by persisting weak macro and exasperated by poor weather across the U.S. (impacting newly acquired U.S. concepts and Coldstone) and Canada (to a lesser extent). We expect SSS [same store sales] to remain pressured over the NTM [next 12 months], but to recover sequentially. Cost containment was notable -- with more initiatives expected in the near to longer-term. Net store closures remain modest and the pipeline for openings seems healthy (for now), despite the higher interest rate environment." The Globe reported on July 12 and Feb. 16 that Mr. Doumet had reaffirmed his "sector perform" call on MTY Food when it was worth $54.27 and $50.21. The Globe reported on Feb. 21 that National Bank analyst Vishal Shreedhar continued to rate MTY Food "outperform." The shares could then be had for $49.14.

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