Saputo (TSE:SAP) Price Target Raised to C$51.00

Saputo (TSE:SAP) had its target price hoisted by Scotia from C$49.00 to C$51.00 in a research report report published on Monday morning,BayStreet reports. They currently have a sector outperform rating on the stock.

A number of other brokerages have also recently commented on SAP. National Bank Financial lifted their target price on Saputo from C$44.00 to C$45.00 and gave the stock a “sector perform” rating in a report on Monday, August 10th. Jefferies Financial Group lowered Saputo from a “strong-buy” rating to a “hold” rating in a report on Friday, July 24th. Ventum Financial set a C$49.00 price target on Saputo and gave the stock a “buy” rating in a research report on Monday, August 10th. Canadian Imperial Bank of Commerce set a C$45.00 price objective on shares of Saputo and gave the stock a “hold” rating in a research note on Thursday, October 22nd. Finally, TD lifted their price objective on shares of Saputo from C$51.00 to C$53.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$48.92.

Saputo Stock Up 0.3%

Shares of TSE:SAP opened at C$44.46 on Monday. The company has a current ratio of 1.70, a quick ratio of 0.67 and a debt-to-equity ratio of 43.61. Saputo has a 12 month low of C$36.88 and a 12 month high of C$45.09. The company has a 50-day moving average price of C$40.26 and a 200 day moving average price of C$41.27. The company has a market cap of C$17.46 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 0.56 and a beta of 0.16.

Saputo (TSE:SAP) last issued its quarterly earnings data on Thursday, November 5th. The company reported C$0.55 earnings per share for the quarter. Saputo had a return on equity of 8.44% and a net margin of 3.29%. The company had revenue of C$4.26 billion for the quarter. As a group, equities research analysts predict that Saputo will post 1.77 earnings per share for the current year.

Saputo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 25th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.9%. This is a boost from Saputo’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, September 15th. Saputo’s dividend payout ratio (DPR) is presently 56.25%.

Latest Saputo News

Here’s some of the latest news about SAP:

• Positive Sentiment: Three reports say National Bank Financial, Ventum and Scotia expect Saputo shares to rise, suggesting supportive analyst sentiment. The headlines do not provide the analysts’ specific price targets or reasoning: National Bank Financial analyst coverage Ventum analyst coverage Scotia analyst coverage
• Neutral Sentiment: Joey Saputo has initiated a sale process for CF Montréal and has not ruled out relocation. The reports concern the soccer club, not a sale of Saputo Inc.; the available headlines do not indicate a direct effect on the company’s operations or finances. CBC News: CF Montréal sale process Sports Business Journal: sale and relocation

About Saputo

Saputo, one of the top ten dairy processors in the world, produces, markets, and distributes a wide array of dairy products of the utmost quality, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products, and dairy ingredients. Saputo is a leading cheese manufacturer and fluid milk and cream processor in Canada and a leading dairy processor in Australia. In the USA, Saputo ranks among the top three cheese producers and is one of the top producers of extended shelf-life and cultured dairy products.