SunOpta, Inc. (STKL) Expected to Post Quarterly Sales of $351.25 Million
Wall Street analysts forecast that SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) will announce sales of $351.25 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for SunOpta’s earnings. The lowest sales estimate is $343.30 million and the highest is $359.19 million. SunOpta posted sales of $348.73 million in the same quarter last year, which suggests a positive year-over-year growth rate of 0.7%. The business is scheduled to issue its next earnings report on Wednesday, November 8th.
On average, 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 anticipate that the business will report sales of $1.37 billion per share, with estimates ranging from $1.33 billion to $1.40 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover SunOpta.
SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its quarterly earnings data on Wednesday, August 9th. The company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). SunOpta had a negative net margin of 0.03% and a negative return on equity of 0.46%. The business had revenue of $336.45 million during the quarter, compared to analyst estimates of $341.18 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis.
Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of SunOpta from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Saturday, July 22nd. Citigroup Inc. lifted their target price on shares of SunOpta from $8.00 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Finally, BidaskClub downgraded shares of SunOpta from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $9.30.
In other news, insider Jeffrey Gough purchased 5,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average price of $8.70 per share, for a total transaction of $43,500.00. Following the transaction, the insider now owns 20,000 shares of the company’s stock, valued at $174,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Robert Mckeracher sold 36,533 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $8.41, for a total transaction of $307,242.53. The disclosure for this sale can be found here. 1.88% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Janus Capital Management LLC lifted its position in shares of SunOpta by 1.4% in the 1st quarter. Janus Capital Management LLC now owns 14,869 shares of the company’s stock worth $103,000 after purchasing an additional 211 shares during the period. Atria Investments LLC acquired a new position in shares of SunOpta during the 2nd quarter valued at $104,000. South State Corp acquired a new position in shares of SunOpta during the 2nd quarter valued at $110,000. Cookson Peirce & Co. Inc. acquired a new position in shares of SunOpta during the 2nd quarter valued at $143,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of SunOpta during the 2nd quarter valued at $153,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.
Shares of SunOpta (NASDAQ STKL) opened at 8.40 on Friday. SunOpta has a 52 week low of $5.73 and a 52 week high of $10.20. The company’s market cap is $726.57 million. The firm has a 50-day moving average of $8.82 and a 200 day moving average of $8.49.
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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