Raymond James Reaffirms “Outperform” Rating for Superior Plus (SPB)

Raymond James reiterated their outperform rating on shares of Superior Plus (TSE:SPB) in a research report released on Thursday, BayStreet.CA reports. The brokerage currently has a C$14.50 price target on the stock.

Several other analysts have also recently issued reports on SPB. National Bank Financial upped their price objective on shares of Superior Plus from C$14.00 to C$14.50 and gave the company an outperform rating in a research note on Thursday, March 21st. Cormark dropped their price target on shares of Superior Plus from C$16.00 to C$15.00 in a research note on Tuesday, February 12th. Desjardins dropped their price target on shares of Superior Plus from C$15.00 to C$14.00 in a research note on Wednesday, January 16th. AltaCorp Capital reissued an outperform rating on shares of Superior Plus in a research note on Wednesday, February 13th. Finally, Canaccord Genuity dropped their price target on shares of Superior Plus from C$13.75 to C$13.50 in a research note on Tuesday, February 19th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Superior Plus currently has an average rating of Buy and a consensus price target of C$14.50.

TSE SPB traded up C$0.01 during trading hours on Thursday, hitting C$11.44. 254,400 shares of the company’s stock traded hands, compared to its average volume of 579,326. Superior Plus has a 52-week low of C$9.17 and a 52-week high of C$13.56. The stock has a market cap of $2.00 billion and a PE ratio of -53.21. The company has a current ratio of 1.12, a quick ratio of 0.80 and a debt-to-equity ratio of 170.25.

Superior Plus (TSE:SPB) last announced its quarterly earnings data on Thursday, February 14th. The company reported C$0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.22 by C($0.02). The company had revenue of C$887.00 million for the quarter, compared to the consensus estimate of C$857.00 million. On average, sell-side analysts forecast that Superior Plus will post 0.769999969459917 EPS for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.72 annualized dividend and a dividend yield of 6.29%. Superior Plus’s dividend payout ratio (DPR) is -334.88%.

Superior Plus Company Profile

Superior Plus Corp. engages in the energy distribution and specialty chemicals businesses in Canada, the United States, and Chile. The company's Energy Distribution segment provides distribution, wholesale procurement, and related services for propane, heating oil, and other refined fuels. Its Specialty Chemicals segment supplies sodium chlorate and technology to the pulp and paper industries, as well as potassium and chlor-alkali products.

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Analyst Recommendations for Superior Plus (TSE:SPB)

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