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

Superior Plus Corp. (TSE:SPB)’s stock price dropped 21.1% during 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. Approximately 5,946,604 shares changed hands during mid-day trading, an increase of 655% from the average daily volume of 787,353 shares. The stock had previously closed at C$7.97.

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

Superior Plus Price Performance

The business has a 50 day simple moving average of C$7.83 and a two-hundred day simple moving average of C$7.62. The firm has a market capitalization of C$1.40 billion, a P/E ratio of 29.95 and a beta of 0.18. The company has a debt-to-equity ratio of 193.35, a quick ratio of 0.46 and a current ratio of 0.67.

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

Superior Plus Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were issued 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 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.