Scotiabank Has Lowered Expectations for Superior Plus (TSE:SPB) Stock Price

Superior Plus (TSE:SPB) had its price target trimmed by Scotiabank from C$12.00 to C$9.00 in a research note released on Monday,BayStreet.CA reports.

Other equities research analysts have also issued reports about the stock. Cibc World Mkts lowered shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 15th. National Bankshares dropped their price objective on Superior Plus from C$10.00 to C$9.00 in a report on Thursday, August 15th. TD Securities reduced their target price on Superior Plus from C$9.00 to C$7.50 and set a “buy” rating for the company in a research note on Friday, November 8th. Royal Bank of Canada dropped their price target on shares of Superior Plus from C$13.00 to C$11.00 in a research note on Thursday, August 15th. Finally, ATB Capital reduced their price objective on shares of Superior Plus from C$13.00 to C$12.00 in a research report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$9.91.

Superior Plus Stock Performance

Shares of SPB stock opened at C$6.25 on Monday. Superior Plus has a 52-week low of C$5.15 and a 52-week high of C$10.36. The company has a quick ratio of 0.46, a current ratio of 0.75 and a debt-to-equity ratio of 133.90. The stock has a market cap of C$1.55 billion, a PE ratio of -125.00 and a beta of 0.76. The business has a 50-day simple moving average of C$7.22 and a 200-day simple moving average of C$8.19.

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 positive return on equity of 1.17% and a negative net margin of 0.10%. The company had revenue of C$578.62 million during the quarter, compared to analysts’ expectations of C$710.53 million.

Superior Plus Cuts Dividend

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

Insider Buying and Selling at Superior Plus

In related news, Director Patrick Edward Gottschalk bought 100,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was bought at an average cost of C$6.32 per share, for a total transaction of C$632,150.40. Also, Director Shawn Bradley Vammen bought 5,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was bought at an average cost of C$6.35 per share, with a total value of C$31,750.00. 0.54% of the stock is owned by insiders.

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.