Superior Plus (TSE:SPB) Price Target Cut to C$9.00 by Analysts at Scotiabank

Superior Plus (TSE:SPB) had its price target reduced by Scotiabank from C$12.00 to C$9.00 in a research report sent to investors on Monday,BayStreet.CA reports.

Other equities analysts have also recently issued research reports about the stock. CIBC upgraded shares of Superior Plus from a “neutral” rating to an “outperform” rating and decreased their price objective for the company from C$9.50 to C$8.50 in a research report on Friday. TD Securities dropped their price objective on Superior Plus from C$9.00 to C$7.50 and set a “buy” rating for the company in a report on Friday. Cibc World Mkts cut Superior Plus from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 15th. Desjardins decreased their target price on Superior Plus from C$10.50 to C$9.50 and set a “buy” rating for the company in a report on Wednesday, October 16th. Finally, National Bank Financial cut shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Superior Plus presently has an average rating of “Moderate Buy” and an average target price of C$9.91.

Superior Plus Stock Up 1.7 %

Shares of TSE:SPB opened at C$6.48 on Monday. The stock has a market capitalization of C$1.61 billion, a P/E ratio of -129.60 and a beta of 0.76. The stock’s 50-day moving average price is C$7.31 and its 200-day moving average price is C$8.26. The company has a current ratio of 0.75, a quick ratio of 0.46 and a debt-to-equity ratio of 133.90. Superior Plus has a 12-month low of C$5.15 and a 12-month high of C$10.36.

Superior Plus (TSE:SPB) last posted its quarterly earnings results on Tuesday, August 13th. The company reported C($0.27) earnings per share (EPS) 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 company had revenue of C$578.62 million for the quarter, compared to the consensus estimate of C$710.53 million.

Superior Plus Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Tuesday, December 31st. Superior Plus’s dividend payout ratio (DPR) is presently -1,440.00%.

Insiders Place Their Bets

In other news, Director Patrick Edward Gottschalk acquired 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average cost of C$6.32 per share, with a total value of C$632,150.40. Corporate insiders own 0.54% of the company’s stock.

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.