Cormark Weighs in on Superior Plus Corp.’s FY2024 Earnings (TSE:SPB)

Superior Plus Corp. (TSE:SPB) – Investment analysts at Cormark cut their FY2024 earnings per share estimates for Superior Plus in a research note issued on Thursday, August 15th. Cormark analyst B. Watson now expects that the company will earn $0.27 per share for the year, down from their prior estimate of $0.58. The consensus estimate for Superior Plus’ current full-year earnings is $0.26 per share. Cormark also issued estimates for Superior Plus’ FY2025 earnings at $0.56 EPS.

SPB has been the topic of several other research reports. Cibc World Mkts lowered shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a research note on Thursday. ATB Capital dropped their price target on Superior Plus from C$13.00 to C$12.00 in a research report on Thursday. CIBC lowered Superior Plus from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from C$14.00 to C$10.00 in a research report on Thursday. BMO Capital Markets dropped their target price on Superior Plus from C$12.00 to C$10.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Finally, TD Securities cut their target price on Superior Plus from C$12.00 to C$10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Superior Plus has a consensus rating of “Hold” and a consensus target price of C$10.82.

Superior Plus Stock Performance

Shares of SPB stock opened at C$7.84 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.46 and a debt-to-equity ratio of 129.19. The company’s fifty day moving average price is C$8.40 and its 200-day moving average price is C$9.13. The stock has a market cap of C$1.95 billion, a PE ratio of 40.43 and a beta of 0.77. Superior Plus has a 12 month low of C$7.51 and a 12 month high of C$10.90.

Insider Activity

In other news, Senior Officer Kirsten Olsen acquired 3,765 shares of the firm’s stock in a transaction dated Monday, May 27th. The shares were acquired at an average cost of C$9.37 per share, with a total value of C$35,278.05. Company insiders own 0.54% of the company’s stock.

Superior Plus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.72 annualized dividend and a yield of 9.18%.

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.