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

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

Other analysts have also issued research reports about the company. BMO Capital Markets cut their target price on Superior Plus from C$10.00 to C$9.00 in a research report on Tuesday, October 22nd. Cormark decreased their target price on Superior Plus from C$12.00 to C$10.00 in a research note on Monday, July 29th. Stifel Nicolaus dropped their target price on Superior Plus from C$12.50 to C$12.00 and set a “buy” rating for the company in a research report 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. Finally, National Bankshares cut their target price on shares of Superior Plus from C$10.00 to C$9.00 in a research note on Thursday, August 15th. Four investment 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$9.91.

Superior Plus Stock Down 0.3 %

Shares of TSE:SPB opened at C$6.25 on Monday. The company has a market capitalization of C$1.55 billion, a price-to-earnings ratio of -125.00 and a beta of 0.76. Superior Plus has a 12-month low of C$5.15 and a 12-month high of C$10.36. The business has a 50-day moving average price of C$7.22 and a 200 day moving average price of C$8.19. 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 announced its quarterly earnings results on Tuesday, August 13th. The company reported C($0.27) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of C$578.62 million for the quarter, compared to analyst estimates of C$710.53 million.

Superior Plus Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Tuesday, December 31st. Superior Plus’s dividend payout ratio is presently -1,440.00%.

Insider Activity

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