CIBC cut shares of Superior Plus (TSE:SPB – Free Report) from an outperform rating to a neutral rating in a research report sent to investors on Thursday morning, BayStreet.CA reports. They currently have C$10.00 target price on the stock, down from their previous target price of C$14.00.
SPB has been the subject of a number of other research reports. Desjardins reduced their price target on Superior Plus from C$13.50 to C$11.50 and set a buy rating for the company in a research report on Thursday, July 18th. TD Securities decreased their target price on Superior Plus from C$12.00 to C$10.00 and set a buy rating for the company in a research report on Wednesday. BMO Capital Markets dropped their price target on shares of Superior Plus from C$12.00 to C$10.00 and set an outperform rating on the stock in a research report on Wednesday. National Bankshares decreased their price objective on shares of Superior Plus from C$10.00 to C$9.00 in a report on Thursday. Finally, ATB Capital dropped their target price on shares of Superior Plus from C$14.00 to C$13.00 in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Superior Plus currently has an average rating of Moderate Buy and an average target price of C$10.86.
Get Our Latest Stock Report on Superior Plus
Superior Plus Stock Up 0.9 %
Superior Plus (TSE:SPB – Get Free Report) last posted its earnings results on Tuesday, May 14th. The company reported C$0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.45 by C($0.05). Superior Plus had a net margin of 0.57% and a return on equity of 2.58%. The business had revenue of C$1.21 billion during the quarter, compared to analyst estimates of C$1.38 billion. Equities research analysts predict that Superior Plus will post 0.2619128 EPS for the current fiscal year.
Superior Plus Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 9.20%. The ex-dividend date is Friday, September 27th.
Insider Buying and Selling
In related news, Senior Officer Kirsten Olsen acquired 3,765 shares of the company’s stock in a transaction that occurred on Monday, May 27th. The shares were acquired at an average cost of C$9.37 per share, for a total transaction of C$35,278.05. 0.54% of the stock is owned by insiders.
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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