SunOpta (NASDAQ:STKL) Posts Earnings Results, Hits Estimates

SunOpta (NASDAQ:STKL) (TSE:SOY) released its quarterly earnings results on Tuesday. The company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02, Zacks reports. SunOpta had a negative net margin of 2.74% and a positive return on equity of 7.92%. The firm had revenue of $176.22 million during the quarter, compared to analysts’ expectations of $172.30 million. SunOpta updated its FY 2024 guidance to EPS.

SunOpta Trading Up 2.6 %

NASDAQ:STKL opened at $7.45 on Friday. SunOpta has a one year low of $3.81 and a one year high of $7.59. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.61 and a current ratio of 1.20. The firm has a 50-day simple moving average of $6.30 and a 200-day simple moving average of $5.89.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on STKL shares. Stephens boosted their price objective on shares of SunOpta from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday. StockNews.com cut shares of SunOpta from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Finally, DA Davidson reissued a “buy” rating and issued a $9.00 price objective on shares of SunOpta in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.50.

SunOpta Company Profile

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products in the United States, Canada, and internationally. The company provides plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases under the Dream and West Life brands; oat-based creamers under the SOWN brand; ready-to-drink protein shakes; and nut, grain, seed, and legume based beverages; packaged teas and concentrates; and meat and vegetable broths and stocks.