Saputo Inc. (SAP) Given Average Recommendation of “Hold” by Analysts
Shares of Saputo Inc. (TSE:SAP) have been assigned an average rating of “Hold” from the seven analysts that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$46.14.
Several research analysts recently weighed in on the company. National Bank Financial increased their target price on Saputo from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 1st. Scotiabank cut their target price on Saputo from C$57.00 to C$54.00 and set an “outperform” rating on the stock in a research report on Friday, June 8th. Royal Bank of Canada increased their target price on Saputo from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a research report on Friday, June 8th. Desjardins lowered Saputo from a “buy” rating to a “hold” rating and cut their target price for the stock from C$48.00 to C$42.00 in a research report on Friday, June 8th. Finally, TD Securities cut their target price on Saputo from C$45.00 to C$42.00 and set a “hold” rating on the stock in a research report on Friday, June 8th.
In related news, insider Carl Colizza acquired 1,000 shares of the business’s stock in a transaction on Friday, August 10th. The shares were bought at an average cost of C$40.92 per share, with a total value of C$40,920.00. Also, insider Patrick Turcotte sold 12,000 shares of the firm’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of C$43.45, for a total value of C$521,400.00. Insiders sold 19,628 shares of company stock worth $848,460 over the last three months.
Saputo (TSE:SAP) last issued its earnings results on Thursday, June 7th. The company reported C$0.35 earnings per share for the quarter, missing the consensus estimate of C$0.42 by C($0.07). The firm had revenue of C$2.74 billion during the quarter, compared to analysts’ expectations of C$2.71 billion. Saputo had a return on equity of 30.30% and a net margin of 11.15%.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Tuesday, September 4th will be given a $0.165 dividend. The ex-dividend date of this dividend is Friday, August 31st. This is a positive change from Saputo’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 1.65%.
Saputo Company Profile
Saputo Inc produces, markets, and distributes dairy products in Canada, the United States, Argentina, Australia, and internationally. It offers cheese products, including mozzarella and cheddar; specialty cheese, such as ricotta, provolone, parmesan, goat cheese, feta, and havarti; fine cheese, such as brie and camembert; other cheese, including brick, colby, farmer, munster, monterey jack, fresh curd, and processed cheese; and butter.
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