CIBC upgraded shares of Superior Plus (TSE:SPB – Free Report) from a neutral rating to an outperform rating in a research report sent to investors on Friday morning,BayStreet.CA reports. They currently have C$8.50 price target on the stock, down from their prior price target of C$9.50.
Several other analysts also recently issued reports on the stock. Cibc World Mkts downgraded shares of Superior Plus from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 15th. National Bankshares decreased their price objective on shares of Superior Plus from C$10.00 to C$9.00 in a report on Thursday, August 15th. Cormark cut their target price on shares of Superior Plus from C$12.00 to C$10.00 in a research note on Monday, July 29th. Stifel Nicolaus cut their target price on shares of Superior Plus from C$12.50 to C$12.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Finally, Scotiabank cut their target price on shares of Superior Plus from C$12.00 to C$9.00 in a research note on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$9.91.
Check Out Our Latest Stock Analysis on SPB
Superior Plus Stock Up 13.8 %
Superior Plus (TSE:SPB – Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The company reported C($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.19) by C($0.08). The firm had revenue of C$578.62 million for the quarter, compared to the consensus estimate of C$710.53 million. Superior Plus had a positive return on equity of 1.17% and a negative net margin of 0.10%.
Superior Plus Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Tuesday, December 31st. Superior Plus’s dividend payout ratio is -1,440.00%.
Superior Plus Company Profile
Superior Plus Corp. distributes and markets propane, compressed natural gas and renewable energy in both the United States and Canada. The company operates through The United States Retail Propane Distribution (U.S. Propane), Canadian Retail Propane Distribution (Canadian Propane), and North American Wholesale Propane Distribution (Wholesale Propane), and Certarus segments.
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