Atb Cap Markets Expects Reduced Earnings for Superior Plus

Superior Plus Corp. (TSE:SPB) – Investment analysts at Atb Cap Markets reduced their FY2024 earnings per share estimates for shares of Superior Plus in a report released on Thursday, November 7th. Atb Cap Markets analyst N. Heywood now expects that the company will post earnings per share of $0.04 for the year, down from their prior estimate of $0.08. Atb Cap Markets also issued estimates for Superior Plus’ Q4 2024 earnings at $0.28 EPS and Q1 2025 earnings at $0.47 EPS.

Superior Plus (TSE:SPB) last released its quarterly earnings data on Tuesday, August 13th. The company reported C($0.27) EPS for the quarter, missing the consensus estimate 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 business had revenue of C$578.62 million for the quarter, compared to analysts’ expectations of C$710.53 million.

Several other research firms have also recently weighed in on SPB. CIBC raised shares of Superior Plus from a “neutral” rating to an “outperform” rating and decreased their price objective for the company from C$9.50 to C$8.50 in a report on Friday. TD Securities decreased their target price on shares of Superior Plus from C$9.00 to C$7.50 and set a “buy” rating for the company in a research note on Friday. National Bankshares dropped their price target on Superior Plus from C$10.00 to C$9.00 in a research note on Thursday, August 15th. Stifel Nicolaus lowered their target price on Superior Plus from C$12.50 to C$12.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Desjardins cut their price target on Superior Plus from C$10.50 to C$9.50 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$9.91.

Superior Plus Price Performance

Shares of TSE:SPB opened at C$6.48 on Monday. The business has a 50-day simple moving average of C$7.31 and a two-hundred day simple moving average of C$8.26. The company has a debt-to-equity ratio of 133.90, a quick ratio of 0.46 and a current ratio of 0.75. The firm has a market cap of C$1.61 billion, a price-to-earnings ratio of -129.60 and a beta of 0.76. Superior Plus has a fifty-two week low of C$5.15 and a fifty-two week high of C$10.36.

Insiders Place Their Bets

In other news, Director Patrick Edward Gottschalk bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average price of C$6.32 per share, with a total value of C$632,150.40. Company insiders own 0.54% of the company’s stock.

Superior Plus Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Tuesday, December 31st. Superior Plus’s dividend payout ratio is currently -1,440.00%.

Superior Plus Company Profile

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.