FY2024 EPS Estimates for Superior Plus Cut by Raymond James

Superior Plus Corp. (TSE:SPB) – Investment analysts at Raymond James decreased their FY2024 earnings per share estimates for shares of Superior Plus in a report released on Friday, November 8th. Raymond James analyst S. Hansen now forecasts that the company will post earnings of $0.08 per share for the year, down from their previous estimate of $0.14.

A number of other brokerages also recently weighed in on SPB. Scotiabank reduced their price target on shares of Superior Plus from C$12.00 to C$9.00 in a report on Monday. BMO Capital Markets decreased their target price on Superior Plus from C$10.00 to C$9.00 in a research report on Tuesday, October 22nd. Cormark cut their price target on Superior Plus from C$12.00 to C$10.00 in a report on Monday, July 29th. Desjardins decreased their price objective on Superior Plus from C$10.50 to C$9.50 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, National Bank Financial cut Superior Plus from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Superior Plus presently has a consensus rating of “Moderate Buy” and an average target price of C$9.91.

Superior Plus Trading Up 1.7 %

Shares of Superior Plus stock opened at C$6.48 on Monday. Superior Plus has a 1 year low of C$5.15 and a 1 year high of C$10.36. The company’s fifty day simple moving average is C$7.31 and its 200-day simple moving average is C$8.26. The company has a market cap of C$1.61 billion, a price-to-earnings ratio of -129.60 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 (TSE:SPB) last issued its quarterly 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). Superior Plus had a positive return on equity of 1.17% and a negative net margin of 0.10%. The business had revenue of C$578.62 million for the quarter, compared to analyst estimates of C$710.53 million.

Insider Buying and Selling at Superior Plus

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 acquired at an average price of C$6.32 per share, for a total transaction of C$632,150.40. Company insiders own 0.54% of the company’s stock.

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 paid a $0.045 dividend. 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 -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.