Raymond James Decreases Earnings Estimates for Superior Plus

Superior Plus Corp. (TSE:SPB) – Raymond James lowered their FY2024 earnings estimates for shares of Superior Plus in a report issued on Friday, November 8th. Raymond James analyst S. Hansen now anticipates that the company will earn $0.08 per share for the year, down from their prior forecast of $0.14.

Superior Plus (TSE:SPB) last announced its quarterly earnings data on Tuesday, August 13th. The company reported C($0.27) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of C$578.62 million during the quarter, compared to the consensus estimate of C$710.53 million.

Several other equities research analysts have also recently commented on SPB. TD Securities lowered their price target on shares of Superior Plus from C$9.00 to C$7.50 and set a “buy” rating for the company in a research report on Friday, November 8th. Cormark cut their price target on Superior Plus from C$12.00 to C$10.00 in a research note on Monday, July 29th. Royal Bank of Canada cut their target price on Superior Plus from C$13.00 to C$11.00 in a research note on Thursday, August 15th. Cibc World Mkts lowered Superior Plus from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 15th. Finally, Stifel Nicolaus decreased their price objective on shares of 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. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$9.91.

Superior Plus Price Performance

Superior Plus stock opened at C$6.25 on Monday. The business’s 50-day simple moving average is C$7.28 and its 200 day simple moving average is C$8.23. The company has a quick ratio of 0.46, a current ratio of 0.75 and a debt-to-equity ratio of 133.90. The stock has a market cap of C$1.55 billion, a price-to-earnings ratio of -125.00 and a beta of 0.76. Superior Plus has a 12-month low of C$5.15 and a 12-month high of C$10.36.

Insider Activity at Superior Plus

In related news, Director Shawn Bradley Vammen acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were bought at an average price of C$6.35 per share, for a total transaction of C$31,750.00. In other news, Director Shawn Bradley Vammen acquired 5,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were bought at an average cost of C$6.35 per share, for a total transaction of C$31,750.00. Also, Director Patrick Edward Gottschalk bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average price of C$6.32 per share, with a total value of C$632,150.40. 0.54% of the stock is owned by company insiders.

Superior Plus Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.045 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.88%. 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.