Saputo (TSE:SAP) Posts Quarterly Earnings Results

Saputo (TSE:SAP) issued its quarterly earnings results on Thursday. The company reported C$0.55 earnings per share (EPS) for the quarter, FiscalAI reports. Saputo had a net margin of 2.80% and a return on equity of 7.45%. The business had revenue of C$4.26 billion for the quarter.

Saputo Stock Performance

TSE SAP traded up C$2.37 during trading hours on Friday, hitting C$43.99. The company had a trading volume of 3,073,239 shares, compared to its average volume of 894,204. The business has a 50 day moving average of C$40.03 and a 200-day moving average of C$41.23. The company has a market cap of C$17.46 billion, a PE ratio of 35.48, a price-to-earnings-growth ratio of 0.56 and a beta of 0.16. Saputo has a 1-year low of C$33.88 and a 1-year high of C$45.09. The company has a debt-to-equity ratio of 41.86, a quick ratio of 0.67 and a current ratio of 1.51.

Saputo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 25th were paid a $0.21 dividend. This is a boost from Saputo’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 1.9%. The ex-dividend date was Tuesday, September 15th. Saputo’s payout ratio is currently 64.52%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Ventum Capital set a C$49.00 price objective on Saputo and gave the company a “buy” rating in a research note on Wednesday, October 21st. Jefferies Financial Group cut Saputo from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 24th. Ventum Financial set a C$49.00 price target on Saputo and gave the stock a “buy” rating in a report on Monday, August 10th. National Bank Financial increased their price target on Saputo from C$44.00 to C$45.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. Finally, Canadian Imperial Bank of Commerce set a C$45.00 price objective on Saputo and gave the company a “hold” rating in a research note on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$48.10.

Saputo Company Profile

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.