Superior Plus (TSE:SPB) Reaches New 1-Year Low – Here’s What Happened

Superior Plus Corp. (TSE:SPB) reached a new 52-week low on Monday . The stock traded as low as C$6.65 and last traded at C$6.65, with a volume of 63998 shares trading hands. The stock had previously closed at C$6.77.

Analysts Set New Price Targets

SPB has been the subject of a number of research reports. Scotiabank reduced their price objective on Superior Plus from C$12.00 to C$9.00 in a research report on Monday, August 19th. TD Securities reduced their target price on Superior Plus from C$10.00 to C$9.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. CIBC lowered Superior Plus from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from C$14.00 to C$10.00 in a research note on Thursday, August 15th. ATB Capital cut their price target on Superior Plus from C$13.00 to C$12.00 in a report on Thursday, August 15th. Finally, Cibc World Mkts cut shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 15th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$10.18.

Superior Plus Price Performance

The company has a 50 day moving average of C$7.57 and a 200 day moving average of C$8.48. 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 firm has a market cap of C$1.66 billion, a price-to-earnings ratio of -135.40 and a beta of 0.76.

Superior Plus (TSE:SPB) last released its quarterly earnings data 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 disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were issued 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 10.78%. Superior Plus’s 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.