Superior Plus (TSE:SPB) Rating Increased to Outperform at CIBC

CIBC upgraded shares of Superior Plus (TSE:SPB) from a neutral rating to an outperform rating in a research report sent to investors on Friday,BayStreet.CA reports. The brokerage currently has C$8.50 price objective on the stock, down from their previous price objective of C$9.50.

Other equities research analysts have also issued research reports about the stock. TD Securities decreased their price objective on shares of Superior Plus from C$9.00 to C$7.50 and set a “buy” rating on the stock in a report on Friday. Royal Bank of Canada decreased their price objective on shares of Superior Plus from C$13.00 to C$11.00 in a report on Thursday, August 15th. National Bankshares decreased their price objective on shares of Superior Plus from C$10.00 to C$9.00 in a report on Thursday, August 15th. Desjardins decreased their price objective on shares of Superior Plus from C$10.50 to C$9.50 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, National Bank Financial lowered shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$9.91.

Superior Plus Price Performance

Shares of SPB traded up C$0.77 during trading hours on Friday, hitting C$6.37. The stock had a trading volume of 3,590,900 shares, compared to its average volume of 941,849. The company’s fifty day moving average is C$7.33 and its two-hundred day moving average is C$8.27. The company has a debt-to-equity ratio of 133.90, a current ratio of 0.75 and a quick ratio of 0.46. Superior Plus has a 52 week low of C$5.15 and a 52 week high of C$10.36. The stock has a market capitalization of C$1.58 billion, a price-to-earnings ratio of -127.40 and a beta of 0.76.

Superior Plus (TSE:SPB) last posted 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 positive return on equity of 1.17% and a negative net margin of 0.10%. The firm had revenue of C$578.62 million during the quarter, compared to the consensus estimate of C$710.53 million.

Superior Plus Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.045 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.83%. Superior Plus’s dividend payout ratio 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.