Superior Plus (TSE:SPB) Price Target Cut to C$9.50

Superior Plus (TSE:SPB) had its price target lowered by Desjardins from C$10.50 to C$9.50 in a research note issued to investors on Wednesday, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Other equities analysts have also issued reports about the company. Stifel Nicolaus lowered their target price on Superior Plus from C$12.50 to C$12.00 and set a “buy” rating for the company in a report on Friday, August 16th. Cormark lowered their price objective on Superior Plus from C$12.00 to C$10.00 in a research note on Monday, July 29th. TD Securities cut their target price on Superior Plus from C$10.00 to C$9.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. ATB Capital lowered their price target on shares of Superior Plus from C$13.00 to C$12.00 in a research report on Thursday, August 15th. Finally, CIBC cut shares of Superior Plus from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from C$14.00 to C$10.00 in a report on Thursday, August 15th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$10.27.

Superior Plus Price Performance

Shares of TSE SPB opened at C$7.41 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.46 and a debt-to-equity ratio of 133.90. The company has a market capitalization of C$1.84 billion, a price-to-earnings ratio of -148.20 and a beta of 0.76. Superior Plus has a twelve month low of C$7.20 and a twelve month high of C$10.36. The business has a 50 day simple moving average of C$7.64 and a 200-day simple moving average of C$8.57.

Superior Plus (TSE:SPB) last released its earnings results on Tuesday, August 13th. The company reported C($0.27) earnings per share for the quarter, missing the consensus estimate of C($0.19) by C($0.08). Superior Plus had a negative net margin of 0.10% and a positive return on equity of 1.17%. The business had revenue of C$578.62 million for the quarter, compared to the consensus estimate of C$710.53 million.

Superior Plus Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.18 per share. The ex-dividend date was Friday, September 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 9.72%. Superior Plus’s dividend payout ratio (DPR) is -1,440.00%.

Superior Plus Company Profile

Superior Plus Corp. distributes and markets propane, compressed natural gas and renewable energy in both the United States and Canada. The company operates through The United States Retail Propane Distribution (U.S. Propane), Canadian Retail Propane Distribution (Canadian Propane), and North American Wholesale Propane Distribution (Wholesale Propane), and Certarus segments.