Superior Plus (TSE:SPB) Hits New 1-Year Low Following Analyst Downgrade

Superior Plus Corp. (TSE:SPB) shares hit a new 52-week low during mid-day trading on Tuesday after BMO Capital Markets lowered their price target on the stock from C$10.00 to C$9.00. The stock traded as low as C$7.14 and last traded at C$7.14, with a volume of 38596 shares changing hands. The stock had previously closed at C$7.23.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada dropped their target price on shares of Superior Plus from C$13.00 to C$11.00 in a research report on Thursday, August 15th. ATB Capital dropped their price objective on shares of Superior Plus from C$13.00 to C$12.00 in a report on Thursday, August 15th. CIBC downgraded Superior Plus from an “outperform” rating to a “neutral” rating and reduced their target price for the company from C$14.00 to C$10.00 in a research note on Thursday, August 15th. National Bankshares decreased their target price on Superior Plus from C$10.00 to C$9.00 in a research report on Thursday, August 15th. Finally, Cibc World Mkts lowered Superior Plus from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Superior Plus currently has a consensus rating of “Hold” and an average target price of C$10.18.

Superior Plus Trading Down 2.1 %

The firm has a market capitalization of C$1.72 billion, a PE ratio of -138.00 and a beta of 0.76. The company has a debt-to-equity ratio of 133.90, a current ratio of 0.75 and a quick ratio of 0.46. The firm’s fifty day moving average is C$7.59 and its two-hundred day moving average is C$8.50.

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). The business had revenue of C$578.62 million for the quarter, compared to the consensus estimate of C$710.53 million. Superior Plus had a positive return on equity of 1.17% and a negative net margin of 0.10%.

Superior Plus Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 10.43%. The ex-dividend date was Friday, September 27th. Superior Plus’s payout ratio is -1,440.00%.

About Superior Plus

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.