$351.25 Million in Sales Expected for SunOpta, Inc. (STKL) This Quarter
Wall Street brokerages expect SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) to post $351.25 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for SunOpta’s earnings, with the lowest sales estimate coming in at $343.30 million and the highest estimate coming in at $359.19 million. SunOpta reported sales of $348.73 million during the same quarter last year, which indicates a positive year over year growth rate of 0.7%. The firm is expected to report its next earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that SunOpta will report full year sales of $351.25 million for the current fiscal year, with estimates ranging from $1.32 billion to $1.34 billion. For the next year, analysts expect that the company will post sales of $1.37 billion per share, with estimates ranging from $1.33 billion to $1.40 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover SunOpta.
SunOpta (NASDAQ:STKL) (TSE:SOY) last released its quarterly earnings results on Wednesday, August 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.02. SunOpta had a negative net margin of 3.70% and a negative return on equity of 0.70%. The business had revenue of $336.45 million during the quarter, compared to the consensus estimate of $341.18 million. During the same period in the prior year, the firm earned $0.05 earnings per share. The business’s quarterly revenue was down 3.3% compared to the same quarter last year.
Several analysts recently weighed in on STKL shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $8.50 price objective on shares of SunOpta in a research note on Wednesday, April 26th. Citigroup Inc. raised their price objective on SunOpta from $8.00 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, May 31st. Zacks Investment Research raised SunOpta from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Saturday, July 15th. Finally, BidaskClub lowered SunOpta from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. SunOpta presently has an average rating of “Hold” and an average price target of $9.30.
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In related news, insider Jeffrey Gough acquired 5,000 shares of the stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $8.70 per share, for a total transaction of $43,500.00. Following the completion of the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at $174,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.88% of the company’s stock.
Large investors have recently modified their holdings of the company. Karp Capital Management Corp acquired a new stake in shares of SunOpta during the first quarter worth $364,000. Gamco Investors INC. ET AL increased its stake in shares of SunOpta by 13.0% in the first quarter. Gamco Investors INC. ET AL now owns 27,000 shares of the company’s stock worth $188,000 after buying an additional 3,100 shares during the last quarter. Teton Advisors Inc. increased its stake in shares of SunOpta by 3.9% in the first quarter. Teton Advisors Inc. now owns 311,664 shares of the company’s stock worth $2,166,000 after buying an additional 11,664 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of SunOpta by 2.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,883,209 shares of the company’s stock worth $13,077,000 after buying an additional 42,151 shares during the last quarter. Finally, Pictet Asset Management Ltd. acquired a new stake in shares of SunOpta during the first quarter worth $3,717,000. Institutional investors and hedge funds own 87.21% of the company’s stock.
SunOpta (NASDAQ:STKL) opened at 8.95 on Friday. SunOpta has a 12-month low of $5.73 and a 12-month high of $10.20. The company has a 50 day moving average price of $9.58 and a 200-day moving average price of $8.24. The company’s market capitalization is $774.14 million.
SunOpta Company Profile
Sunopta Inc is a Canada-based company, which operates businesses focused on a healthy products portfolio. It operates through the following segments: Global Ingredients and Consumer Products. The Global Ingredients segment aggregates its North American and international raw material sourcing and supply operating segments focused on the procurement, processing and sale of specialty and organic grains, seeds, fruits, grain- and cocoa-based ingredients, and other commodities.
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