Scotiabank Has Lowered Expectations for Superior Plus (TSE:SPB) Stock Price

Superior Plus (TSE:SPB) had its price objective lowered by Scotiabank from C$12.00 to C$9.00 in a research note released on Monday morning,BayStreet.CA reports.

A number of other equities analysts have also recently weighed in on the stock. Stifel Nicolaus lowered 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 research report on Friday, August 16th. CIBC raised shares of Superior Plus from a “neutral” rating to an “outperform” rating and lowered their price objective for the stock from C$9.50 to C$8.50 in a research report on Friday, November 8th. National Bankshares lowered their price objective on shares of Superior Plus from C$10.00 to C$9.00 in a research report on Thursday, August 15th. BMO Capital Markets lowered their price objective on shares of Superior Plus from C$10.00 to C$9.00 in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada decreased their price target on shares of Superior Plus from C$13.00 to C$11.00 in a research report on Thursday, August 15th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Superior Plus presently has a consensus rating of “Moderate Buy” and an average price target of C$9.91.

Superior Plus Stock Performance

Superior Plus stock opened at C$6.27 on Monday. 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 stock has a market cap of C$1.56 billion, a price-to-earnings ratio of -125.40 and a beta of 0.76. The firm has a 50 day simple moving average of C$7.25 and a 200-day simple moving average of C$8.21. Superior Plus has a 1-year low of C$5.15 and a 1-year high of C$10.36.

Superior Plus (TSE:SPB) last posted its quarterly earnings data on Tuesday, August 13th. The company reported C($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.19) by C($0.08). The company had revenue of C$578.62 million for the quarter, compared to analysts’ expectations of C$710.53 million. Superior Plus had a positive return on equity of 1.17% and a negative net margin of 0.10%.

Superior Plus Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Tuesday, December 31st. Superior Plus’s dividend payout ratio is currently -1,440.00%.

Insider Buying and Selling at Superior Plus

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

About Superior Plus

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.