Superior Plus (TSE:SPB) Price Target Cut to C$9.50 by Analysts at Desjardins

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

A number of other brokerages have also recently weighed in on SPB. ATB Capital decreased their price objective on Superior Plus from C$13.00 to C$12.00 in a report on Thursday, August 15th. Cormark lowered their price objective on shares of Superior Plus from C$12.00 to C$10.00 in a report on Monday, July 29th. BMO Capital Markets reduced their target price on shares of 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. Scotiabank lowered their price target on shares of Superior Plus from C$12.00 to C$9.00 in a research note on Monday, August 19th. Finally, Cibc World Mkts cut Superior Plus from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 15th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$10.27.

Superior Plus Price Performance

SPB stock opened at C$7.43 on Wednesday. The firm has a 50 day simple moving average of C$7.65 and a two-hundred day simple moving average of C$8.60. 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$1.85 billion, a PE ratio of -148.60 and a beta of 0.76. Superior Plus has a one year low of C$7.20 and a one year high of C$10.36.

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

Superior Plus Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were paid a $0.18 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.72 annualized dividend and a dividend yield of 9.69%. Superior Plus’s payout ratio is presently -1,440.00%.

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.