Royal Bank Of Canada upgraded shares of Saputo Inc. (TSE:SAP) from a sector perform rating to an outperform rating in a research note issued to investors on Wednesday. The brokerage currently has C$48.00 price objective on the stock.
A number of other research firms also recently issued reports on SAP. BMO Capital Markets reaffirmed a market perform rating and issued a C$48.00 price objective on shares of Saputo in a research note on Thursday, April 13th. Desjardins raised Saputo from a hold rating to a buy rating and set a C$47.00 price objective on the stock in a research note on Friday, June 2nd. CIBC reduced their price objective on Saputo from C$54.00 to C$51.00 in a research note on Friday, June 2nd. Finally, TD Securities reduced their price objective on Saputo from C$49.00 to C$48.00 and set a hold rating on the stock in a research note on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of Buy and an average target price of C$48.86.
Shares of Saputo (SAP) opened at 41.83 on Wednesday. Saputo has a 52 week low of $38.41 and a 52 week high of $48.98. The stock has a market cap of $16.15 billion and a price-to-earnings ratio of 22.73. The firm has a 50-day moving average price of $41.83 and a 200 day moving average price of $44.75.
Saputo (TSE:SAP) last released its quarterly earnings data on Thursday, June 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.06. Saputo had a return on equity of 15.26% and a net margin of 6.07%. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.92 billion. On average, analysts forecast that Saputo will post $2.03 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 27th. Stockholders of record on Tuesday, June 27th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Tuesday, June 13th.
In related news, Director Annette Marie Verschuren bought 1,000 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were purchased at an average price of C$43.03 per share, with a total value of C$43,030.00. In the last three months, insiders have bought 2,190 shares of company stock worth $93,037.
Saputo Inc produces, markets and distributes dairy products, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products and dairy ingredients. The Company has three geographic sectors. The Canada Sector consists of Dairy Division (Canada). The USA Sector aggregates the Cheese Division (USA) and the Dairy Foods Division (USA).
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