Superior Plus (TSE:SPB) Trading Down 22.2% on Analyst Downgrade

Superior Plus Corp. (TSE:SPB) traded down 22.2% during mid-day trading on Friday after CIBC lowered their price target on the stock from C$9.00 to C$8.50. The stock traded as low as C$6.20 and last traded at C$6.20. 2,442,838 shares were traded during trading, an increase of 220% from the average session volume of 764,542 shares. The stock had previously closed at C$7.97.

A number of other brokerages also recently issued reports on SPB. Raymond James Financial cut their price objective on shares of Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating for the company in a research report on Thursday, August 14th. BMO Capital Markets boosted their price target on Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. TD Securities upped their price target on Superior Plus from C$8.00 to C$9.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. 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 report on Wednesday, August 13th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$9.41.

Superior Plus Stock Down 21.1%

The firm has a market capitalization of C$1.40 billion, a PE ratio of 29.95 and a beta of 0.18. The company has a debt-to-equity ratio of 193.35, a current ratio of 0.67 and a quick ratio of 0.46. The company has a 50-day moving average price of C$7.83 and a 200 day moving average price of C$7.63.

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

Superior Plus Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th were given a dividend of $0.045 per share. The ex-dividend date was Monday, September 29th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.9%. Superior Plus’s dividend payout ratio is currently 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.