Savaria Co. (TSE:SIS) to Post Q3 2024 Earnings of $0.24 Per Share, Raymond James Forecasts

Savaria Co. (TSE:SIS) – Research analysts at Raymond James increased their Q3 2024 earnings per share (EPS) estimates for Savaria in a report released on Thursday, September 12th. Raymond James analyst M. Glen now forecasts that the company will post earnings per share of $0.24 for the quarter, up from their prior estimate of $0.23. Raymond James currently has a “Outperform” rating and a $27.50 price target 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.

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

A number of other brokerages have also commented on SIS. National Bankshares increased their price target on shares of Savaria from C$21.00 to C$22.00 in a report on Thursday, August 8th. Stifel Nicolaus raised their price target on Savaria from C$24.00 to C$25.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Desjardins upped their price objective on Savaria from C$23.50 to C$24.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, TD Securities raised their price objective on Savaria from C$23.00 to C$24.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$24.07.

Savaria Trading Down 0.4 %

Shares of SIS opened at C$21.12 on Monday. Savaria has a 1-year low of C$12.21 and a 1-year high of C$21.23. The company has a market capitalization of C$1.50 billion, a P/E ratio of 32.49, a P/E/G ratio of 42.72 and a beta of 0.89. The company has a debt-to-equity ratio of 56.50, a current ratio of 1.94 and a quick ratio of 0.91. The firm’s 50 day simple moving average is C$19.40 and its 200 day simple moving average is C$17.96.

Insider Activity

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

Savaria Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th will be issued a $0.045 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.54 annualized dividend and a dividend yield of 2.56%. This is an increase from Savaria’s previous monthly dividend of $0.04. Savaria’s payout ratio is currently 80.00%.

Savaria Company Profile

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.