Canaccord Genuity Group Cuts Alimentation Couche-Tard (TSE:ATD) Price Target to C$83.00

Alimentation Couche-Tard (TSE:ATD) had its price target reduced by Canaccord Genuity Group from C$85.00 to C$83.00 in a research note published on Friday, BayStreet.CA reports.

Other equities research analysts also recently issued reports about the stock. National Bankshares lowered their target price on shares of Alimentation Couche-Tard from C$86.00 to C$85.00 in a research note on Friday. Desjardins lowered their target price on shares of Alimentation Couche-Tard from C$96.00 to C$94.00 and set an outperform rating for the company in a research note on Thursday. Stifel Nicolaus raised their target price on shares of Alimentation Couche-Tard from C$86.00 to C$88.00 in a research note on Friday. Royal Bank of Canada lowered their price objective on shares of Alimentation Couche-Tard from C$96.00 to C$94.00 in a research note on Thursday. Finally, CIBC lowered their price objective on shares of Alimentation Couche-Tard from C$89.00 to C$88.00 in a research note on Friday. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of C$87.50.

Alimentation Couche-Tard Price Performance

Shares of ATD opened at C$76.86 on Friday. The company has a market cap of C$73.53 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 1.35 and a beta of 0.90. Alimentation Couche-Tard has a twelve month low of C$68.93 and a twelve month high of C$87.27. The company has a quick ratio of 0.88, a current ratio of 0.95 and a debt-to-equity ratio of 109.56. The company has a 50 day moving average of C$80.29 and a two-hundred day moving average of C$79.12.

Alimentation Couche-Tard (TSE:ATD) last announced its earnings results on Tuesday, June 25th. The company reported C$0.65 earnings per share for the quarter, missing the consensus estimate of C$0.67 by C($0.02). The firm had revenue of C$23.88 billion during the quarter, compared to analyst estimates of C$23.13 billion. Alimentation Couche-Tard had a net margin of 3.94% and a return on equity of 21.13%. As a group, analysts predict that Alimentation Couche-Tard will post 4.0130276 earnings per share for the current fiscal year.

Alimentation Couche-Tard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.70 dividend on an annualized basis and a yield of 0.91%. Alimentation Couche-Tard’s dividend payout ratio is presently 18.47%.

Alimentation Couche-Tard Company Profile

Alimentation Couche-Tard Inc operates and licenses convenience stores in North America, Europe, and Asia. Its convenience stores sell tobacco products and alternative tobacco products, grocery items, candies and snacks, beer, wine, beverages, and fresh food offerings; road transportation fuels and electric vehicle charging solutions; and aviation fuels, as well as energy for stationary engines.