Saputo (TSE:SAP) Share Price Passes Above 200 Day Moving Average – Here’s Why

Saputo Inc. (TSE:SAP) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$25.69 and traded as high as C$25.70. Saputo shares last traded at C$25.60, with a volume of 685,610 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SAP shares. BMO Capital Markets decreased their price target on Saputo from C$30.00 to C$27.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Scotiabank raised shares of Saputo to a “strong-buy” rating in a research report on Tuesday, April 1st. Royal Bank of Canada cut their target price on shares of Saputo from C$38.00 to C$35.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. CIBC cut their price objective on Saputo from C$32.00 to C$29.00 in a research report on Monday, February 10th. Finally, Desjardins lowered their target price on Saputo from C$34.00 to C$31.00 and set a “buy” rating for the company in a research note on Monday, February 10th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$31.00.

Saputo Price Performance

The company has a debt-to-equity ratio of 51.68, a current ratio of 1.53 and a quick ratio of 0.67. The company’s 50-day moving average is C$25.07 and its 200-day moving average is C$25.67. The firm has a market capitalization of C$11.04 billion, a price-to-earnings ratio of -70.09, a PEG ratio of 0.56 and a beta of 0.32.

Saputo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 14th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.76 dividend on an annualized basis and a yield of 2.90%. Saputo’s dividend payout ratio (DPR) is -203.48%.

Saputo Company Profile

Saputo Inc produces, markets, and distributes dairy products in Canada, the United States, Argentina, Australia, and the United Kingdom. The company offers cheeses, including mozzarella and cheddar; specialty cheeses, such as ricotta, provolone, blue, parmesan, goat cheese, feta, romano, and havarti; fine cheeses comprising brie and camembert; and other cheeses that include brick, colby, farmer, munster, monterey jack, fresh curd, and processed cheeses.