Superior Plus (TSE:SPB) Shares Down 21.1% After Analyst Downgrade

Superior Plus Corp. (TSE:SPB) shares fell 21.1% during mid-day trading on Saturday after CIBC lowered their price target on the stock from C$9.00 to C$8.50. The stock traded as low as C$6.06 and last traded at C$6.29. 5,946,604 shares traded hands during mid-day trading, an increase of 655% from the average session volume of 787,353 shares. The stock had previously closed at C$7.97.

Several other analysts have also recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Superior Plus from C$8.00 to C$10.00 in a research note on Friday, October 10th. TD Securities raised their target price on shares of Superior Plus from C$8.00 to C$9.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. Raymond James Financial cut their price target on Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating for the company in a research note on Thursday, August 14th. Finally, Desjardins lowered their price objective on Superior Plus from C$10.50 to C$9.75 and set a “buy” rating on the stock in a research note on Wednesday, August 13th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$9.41.

Superior Plus Stock Down 21.1%

The company has a debt-to-equity ratio of 193.35, a quick ratio of 0.46 and a current ratio of 0.67. The stock’s fifty day simple moving average is C$7.83 and its two-hundred day simple moving average is C$7.63. The stock has a market capitalization of C$1.40 billion, a P/E ratio of 29.95 and a beta of 0.18.

Superior Plus (TSE:SPB) last issued its quarterly earnings results on Thursday, November 13th. The company reported C($0.47) EPS for the quarter. Superior Plus had a return on equity of 4.21% and a net margin of 1.80%.The business had revenue of C$470.64 million for the quarter.

Superior Plus Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 15th were given a $0.045 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $0.18 annualized dividend and a dividend yield of 2.9%. Superior Plus’s dividend payout ratio (DPR) is 109.01%.

Superior Plus Company Profile

Superior is a leading North American distributor of propane, compressed natural gas, renewable energy and related products and services, servicing approximately 770,000 customer locations in the U.S. and Canada. Through its primary businesses, propane distribution and CNG, RNG and hydrogen distribution, Superior safely delivers clean burning fuels to residential, commercial, utility, agricultural and industrial customers not connected to a pipeline.