Desjardins Trims Superior Plus (TSE:SPB) Target Price to C$9.50

Superior Plus (TSE:SPB) had its target price decreased by Desjardins from C$10.50 to C$9.50 in a research note issued to investors on Wednesday, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. National Bank Financial cut shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 16th. National Bankshares lowered their target price on shares of Superior Plus from C$10.00 to C$9.00 in a research note on Thursday, August 15th. Scotiabank reduced their price target on Superior Plus from C$12.00 to C$9.00 in a research note on Monday, August 19th. Stifel Nicolaus lowered their price objective on Superior Plus from C$12.50 to C$12.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Finally, ATB Capital reduced their target price on Superior Plus from C$13.00 to C$12.00 in a research report on Thursday, August 15th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$10.27.

Superior Plus Stock Up 0.4 %

Shares of TSE SPB opened at C$7.41 on Wednesday. The company has a debt-to-equity ratio of 133.90, a current ratio of 0.75 and a quick ratio of 0.46. The firm’s 50-day moving average is C$7.64 and its two-hundred day moving average is C$8.58. Superior Plus has a 12-month low of C$7.20 and a 12-month high of C$10.36. The company has a market capitalization of C$1.84 billion, a PE ratio of -148.20 and a beta of 0.76.

Superior Plus (TSE:SPB) last released its quarterly earnings results on Tuesday, August 13th. The company reported C($0.27) earnings per share 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 analysts’ expectations of C$710.53 million.

Superior Plus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 9.72%. The ex-dividend date of this dividend was Friday, September 27th. Superior Plus’s payout ratio is currently -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.