BMO Capital Markets Cuts Superior Plus (TSE:SPB) Price Target to C$9.00

Superior Plus (TSE:SPB) had its price objective lowered by BMO Capital Markets from C$10.00 to C$9.00 in a research report report published on Tuesday, BayStreet.CA reports.

A number of other analysts have also commented on the stock. Stifel Nicolaus decreased their price target on shares of Superior Plus from C$12.50 to C$12.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Cibc World Mkts cut shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 15th. Scotiabank lowered their price objective on Superior Plus from C$12.00 to C$9.00 in a research note on Monday, August 19th. Royal Bank of Canada decreased their price target on Superior Plus from C$13.00 to C$11.00 in a report on Thursday, August 15th. Finally, ATB Capital cut their price objective on shares of Superior Plus from C$13.00 to C$12.00 in a report on Thursday, August 15th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$10.18.

Superior Plus Price Performance

Shares of TSE SPB opened at C$6.81 on Tuesday. The firm has a market capitalization of C$1.69 billion, a P/E ratio of -136.20 and a beta of 0.76. The firm’s 50-day moving average price is C$7.57 and its 200-day moving average price is C$8.48. The company has a current ratio of 0.75, a quick ratio of 0.46 and a debt-to-equity ratio of 133.90. Superior Plus has a 1-year low of C$6.79 and a 1-year high of C$10.36.

Superior Plus (TSE:SPB) last issued 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). The firm had revenue of C$578.62 million during the quarter, compared to the consensus estimate of C$710.53 million. Superior Plus had a negative net margin of 0.10% and a positive return on equity of 1.17%.

Superior Plus Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, September 27th. This represents a $0.72 annualized dividend and a dividend yield of 10.57%. Superior Plus’s payout ratio is -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.