CIBC Issues Positive Forecast for Alimentation Couche-Tard (TSE:ATD) Stock Price

Alimentation Couche-Tard (TSE:ATD) had its target price upped by CIBC from C$88.00 to C$89.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

A number of other equities research analysts have also recently issued reports on the stock. Desjardins lifted their price target on shares of Alimentation Couche-Tard from C$84.00 to C$85.00 in a research note on Wednesday. Stifel Nicolaus boosted their target price on shares of Alimentation Couche-Tard from C$86.00 to C$88.00 in a research note on Friday, September 6th. National Bankshares raised their price target on shares of Alimentation Couche-Tard from C$85.00 to C$87.00 in a research note on Wednesday. Royal Bank of Canada cut their price objective on Alimentation Couche-Tard from C$96.00 to C$94.00 in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. increased their target price on Alimentation Couche-Tard from C$83.00 to C$87.00 in a report on Thursday, September 19th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$87.67.

Alimentation Couche-Tard Stock Down 1.1 %

ATD stock opened at C$81.91 on Wednesday. The firm’s fifty day moving average is C$75.61 and its 200 day moving average is C$77.83. The firm has a market cap of C$77.65 billion, a PE ratio of 21.17, a P/E/G ratio of 1.35 and a beta of 0.89. Alimentation Couche-Tard has a one year low of C$71.31 and a one year high of C$87.27. The company has a debt-to-equity ratio of 102.11, a quick ratio of 0.88 and a current ratio of 1.00.

Alimentation Couche-Tard (TSE:ATD) last issued its quarterly earnings results on Wednesday, September 4th. The company reported C$1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.11 by C$0.02. Alimentation Couche-Tard had a return on equity of 19.72% and a net margin of 3.73%. The company had revenue of C$24.99 billion for the quarter, compared to the consensus estimate of C$24.73 billion. On average, research analysts forecast that Alimentation Couche-Tard will post 4.0410959 EPS for the current year.

Alimentation Couche-Tard Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 18th will be issued a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 0.95%. This is a positive change from Alimentation Couche-Tard’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Wednesday, December 4th. Alimentation Couche-Tard’s payout ratio is presently 18.09%.

About Alimentation Couche-Tard

Alimentation Couche-Tard Inc operates and licenses convenience stores in North America, Europe, and Asia. Its convenience stores sell tobacco products and alternative tobacco products, grocery items, candies and snacks, beer, wine, beverages, and fresh food offerings; road transportation fuels and electric vehicle charging solutions; and aviation fuels, as well as energy for stationary engines.