SunOpta (NASDAQ:STKL) Releases Earnings Results, Hits Expectations

SunOpta (NASDAQ:STKL) (TSE:SOY) released its earnings results on Tuesday. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02, Zacks reports. SunOpta had a positive return on equity of 6.51% and a negative net margin of 23.23%. The company had revenue of $176.22 million for the quarter, compared to analyst estimates of $172.30 million. SunOpta updated its FY 2024 guidance to EPS.

SunOpta Price Performance

NASDAQ:STKL traded up $0.19 on Thursday, hitting $7.45. The company had a trading volume of 892,922 shares, compared to its average volume of 811,939. SunOpta has a 52 week low of $3.81 and a 52 week high of $7.59. The company has a current ratio of 1.27, a quick ratio of 0.61 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $889.90 million, a price-to-earnings ratio of -5.22 and a beta of 1.83. The firm has a 50 day moving average of $6.27 and a two-hundred day moving average of $5.88.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Stephens increased their price objective on shares of SunOpta from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday. DA Davidson reiterated a “buy” rating and set a $9.00 price target on shares of SunOpta in a research report on Thursday, October 10th. Finally, StockNews.com downgraded shares of SunOpta from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, SunOpta currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

SunOpta Company Profile

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products in the United States, Canada, and internationally. The company provides plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases under the Dream and West Life brands; oat-based creamers under the SOWN brand; ready-to-drink protein shakes; and nut, grain, seed, and legume based beverages; packaged teas and concentrates; and meat and vegetable broths and stocks.