StorageVault Canada (TSE:SVI) Announces Quarterly Earnings Results

StorageVault Canada (TSE:SVI) announced its quarterly earnings data on Wednesday. The company reported C($0.02) earnings per share for the quarter, FiscalAI reports. StorageVault Canada had a negative net margin of 4.28% and a negative return on equity of 14.88%. The company had revenue of C$91.09 million during the quarter.

StorageVault Canada Stock Up 0.6%

TSE SVI opened at C$4.86 on Friday. The firm has a market capitalization of C$1.78 billion, a PE ratio of -121.50 and a beta of 0.77. The stock’s 50 day moving average is C$4.60 and its 200 day moving average is C$4.67. StorageVault Canada has a twelve month low of C$4.11 and a twelve month high of C$5.39.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SVI. National Bank Financial set a C$6.25 price target on shares of StorageVault Canada and gave the company an “outperform” rating in a research report on Monday, April 20th. Raymond James Financial upgraded shares of StorageVault Canada from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from C$5.50 to C$5.25 in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$5.75.

Insider Transactions at StorageVault Canada

In other news, insider Access Self Storage Inc. acquired 89,700 shares of the stock in a transaction on Wednesday, July 15th. The stock was acquired at an average price of C$4.60 per share, with a total value of C$412,620.00. Following the completion of the transaction, the insider owned 136,992,005 shares of the company’s stock, valued at C$630,163,223. This represents a 0.07% increase in their position. Company insiders own 38.49% of the company’s stock.

StorageVault Canada Company Profile

StorageVault Canada Inc is engaged in the business of owning, operating, and leasing storage to individual and commercial customers across Canada. The company operates through three segments. Its Self Storage segment consists of renting space at the company’s property for short or long-term storage which also includes space for storing vehicles and use for small commercial operations. The Portable Storage segment involves delivering a portable storage unit to the customer. The Management Division involves revenues generated from the management of stores owned by third parties.