Scotiabank Cuts Superior Plus (TSE:SPB) Price Target to C$9.00

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

SPB has been the topic of a number of other reports. Cibc World Mkts downgraded Superior Plus from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 15th. Royal Bank of Canada dropped their price objective on shares of Superior Plus from C$13.00 to C$11.00 in a report on Thursday, August 15th. BMO Capital Markets dropped their price objective on shares of Superior Plus from C$10.00 to C$9.00 in a report on Tuesday, October 22nd. TD Securities dropped their price objective on shares of Superior Plus from C$9.00 to C$7.50 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, National Bankshares dropped their price objective on shares of Superior Plus from C$10.00 to C$9.00 in a report on Thursday, August 15th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$9.91.

Superior Plus Stock Performance

Shares of SPB stock opened at C$6.27 on Monday. The business’s fifty day simple moving average is C$7.25 and its 200-day simple moving average is C$8.21. The company has a market cap of C$1.56 billion, a PE ratio of -125.40 and a beta of 0.76. 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 12-month low of C$5.15 and a 12-month high of C$10.36.

Superior Plus (TSE:SPB) last issued its quarterly earnings results on Tuesday, August 13th. The company reported C($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.19) by C($0.08). The business had revenue of C$578.62 million for the quarter, compared to analyst estimates 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. Investors of record on Tuesday, December 31st will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.18 annualized dividend and a dividend yield of 2.87%. Superior Plus’s dividend payout ratio (DPR) is presently -1,440.00%.

Insider Buying and Selling

In related news, Director Shawn Bradley Vammen purchased 5,000 shares of Superior Plus stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average price of C$6.35 per share, for a total transaction of C$31,750.00. In other Superior Plus news, Director Shawn Bradley Vammen acquired 5,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was bought at an average price of C$6.35 per share, for a total transaction of C$31,750.00. Also, Director Patrick Edward Gottschalk acquired 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was acquired at an average price of C$6.32 per share, with a total value of C$632,150.40. Insiders own 0.54% of the company’s stock.

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.