Q3 2024 Earnings Forecast for Savaria Co. Issued By Raymond James (TSE:SIS)

Savaria Co. (TSE:SIS) – Analysts at Raymond James upped their Q3 2024 earnings estimates for Savaria in a report released on Thursday, September 12th. Raymond James analyst M. Glen now expects that the company will earn $0.24 per share for the quarter, up from their prior forecast of $0.23. Raymond James currently has a “Outperform” rating and a $27.50 target price on the stock. The consensus estimate for Savaria’s current full-year earnings is $1.18 per share. Raymond James also issued estimates for Savaria’s FY2024 earnings at $0.88 EPS and FY2025 earnings at $1.09 EPS.

Other equities analysts have also issued reports about the company. Stifel Nicolaus raised their target price on Savaria from C$24.00 to C$25.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. TD Securities lifted their target price on shares of Savaria from C$23.00 to C$24.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. National Bankshares boosted their price objective on Savaria from C$21.00 to C$22.00 in a research report on Thursday, August 8th. Finally, Desjardins boosted their target price on shares of Savaria from C$23.50 to C$24.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$24.07.

Savaria Stock Performance

Shares of SIS opened at C$20.92 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.94 and a debt-to-equity ratio of 56.50. Savaria has a 12 month low of C$12.21 and a 12 month high of C$20.99. The company’s fifty day moving average is C$19.34 and its 200-day moving average is C$17.92. The firm has a market cap of C$1.49 billion, a price-to-earnings ratio of 32.00, a price-to-earnings-growth ratio of 42.72 and a beta of 0.89.

Savaria (TSE:SIS) last released its quarterly earnings data on Wednesday, August 7th. The company reported C$0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.20 by C$0.02. The firm had revenue of C$221.34 million during the quarter, compared to analysts’ expectations of C$213.08 million. Savaria had a return on equity of 8.95% and a net margin of 5.25%.

Savaria Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 9th. Investors of record on Monday, September 30th will be given a dividend of $0.045 per share. This represents a $0.54 dividend on an annualized basis and a yield of 2.58%. This is a positive change from Savaria’s previous monthly dividend of $0.04. The ex-dividend date of this dividend is Monday, September 30th. Savaria’s dividend payout ratio (DPR) is currently 80.00%.

Insider Activity at Savaria

In other Savaria news, Senior Officer Sylvain Aubry sold 20,002 shares of Savaria stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$20.75, for a total value of C$415,041.50. 20.30% of the stock is currently owned by corporate insiders.

About Savaria

Savaria Corporation provides accessibility solutions for the elderly and physically challenged people in Canada, the United States, Europe, and internationally. The company operates in two segments, Accessibility and Patient Care. The Accessibility segment designs, manufactures, distributes, and installs a portfolio of accessibility products, including commercial and home elevators, stairlifts, platform lifts, and wheelchair lowered-floor accessible conversions for selected brands of minivans, personal, residential, or commercial applications.