Cormark Expects Weaker Earnings for StorageVault Canada

StorageVault Canada Inc. (TSE:SVI) – Research analysts at Cormark decreased their FY2024 earnings per share estimates for StorageVault Canada in a research report issued on Monday, October 28th. Cormark analyst S. Srinivas now expects that the company will post earnings of $0.20 per share for the year, down from their previous estimate of $0.21.

Several other equities research analysts have also recently weighed in on the company. Desjardins cut StorageVault Canada from a “moderate buy” rating to a “hold” rating in a research note on Thursday, October 24th. National Bank Financial raised StorageVault Canada from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 17th.

StorageVault Canada Price Performance

Shares of TSE SVI opened at C$4.16 on Wednesday. The business’s 50 day moving average is C$4.81 and its two-hundred day moving average is C$4.74. StorageVault Canada has a 1-year low of C$4.11 and a 1-year high of C$5.50. The stock has a market capitalization of C$1.55 billion, a P/E ratio of -52.00 and a beta of 0.89.

StorageVault Canada (TSE:SVI) last issued its earnings results on Wednesday, October 23rd. The company reported C($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.06 by C($0.08). StorageVault Canada had a negative return on equity of 14.77% and a negative net margin of 9.49%. The firm had revenue of C$78.96 million during the quarter.

StorageVault Canada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were paid a dividend of $0.292 per share. This is a boost from StorageVault Canada’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 28.08%. StorageVault Canada’s dividend payout ratio is currently -12.50%.

StorageVault Canada Company Profile

StorageVault Canada Inc owns, manages, and rents self-storage and portable storage space to individual and commercial customers in Canada. It operates through three segments: Self Storage, Portable Storage, and Management Division. The company manages various stores owned by third parties; and stores, shreds, and manages documents and records for customers.