Saputo Inc. (SAP) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Saputo Inc. (TSE:SAP) have been assigned a consensus recommendation of “Buy” from the seven ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$49.29.
A number of research analysts have weighed in on the stock. TD Securities raised shares of Saputo from a “hold” rating to a “buy” rating and lifted their price target for the company from C$48.00 to C$49.00 in a research report on Wednesday, August 2nd. Desjardins raised shares of Saputo from a “hold” rating to a “buy” rating and set a C$47.00 price target on the stock in a research report on Friday, June 2nd. CIBC reduced their price target on shares of Saputo from C$54.00 to C$51.00 in a research report on Friday, June 2nd. Royal Bank Of Canada reduced their price target on shares of Saputo from C$50.00 to C$48.00 and set a “sector perform” rating on the stock in a research report on Friday, June 2nd. Finally, National Bank Financial reduced their price target on shares of Saputo from C$48.00 to C$47.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 26th.
Shares of Saputo (SAP) opened at 42.75 on Friday. The stock has a market capitalization of $16.51 billion and a P/E ratio of 22.38. Saputo has a 1-year low of $39.74 and a 1-year high of $48.98. The stock has a 50 day moving average of $42.01 and a 200-day moving average of $44.09.
Saputo (TSE:SAP) last released its earnings results on Thursday, June 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.06. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.92 billion. Saputo had a return on equity of 18.57% and a net margin of 6.93%. Equities research analysts predict that Saputo will post $2.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, September 5th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, August 31st. This is a positive change from Saputo’s previous quarterly dividend of $0.15.
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In other Saputo news, Director Annette Marie Verschuren bought 1,000 shares of the stock in a transaction on Tuesday, June 6th. The stock was purchased at an average price of C$43.03 per share, for a total transaction of C$43,030.00. Also, insider Louise St-Jean sold 838 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of C$43.39, for a total transaction of C$36,360.82. In the last 90 days, insiders purchased 2,490 shares of company stock valued at $105,967.
Saputo Inc produces, markets and distributes dairy products, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products and dairy ingredients. The Company has three geographic sectors. The Canada Sector consists of Dairy Division (Canada). The USA Sector aggregates the Cheese Division (USA) and the Dairy Foods Division (USA).
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