Desjardins Weighs in on Savaria Co.’s Q2 2024 Earnings (TSE:SIS)

Savaria Co. (TSE:SIS) – Equities researchers at Desjardins raised their Q2 2024 earnings estimates for shares of Savaria in a report issued on Wednesday, April 10th. Desjardins analyst F. Tremblay now forecasts that the company will post earnings per share of $0.70 for the quarter, up from their previous forecast of $0.16. Desjardins has a “Buy” rating and a $23.50 price target on the stock. The consensus estimate for Savaria’s current full-year earnings is $0.79 per share. Desjardins also issued estimates for Savaria’s FY2024 earnings at $0.67 EPS and FY2025 earnings at $1.12 EPS.

Savaria (TSE:SIS) last posted its earnings results on Wednesday, March 6th. The company reported C$0.19 EPS for the quarter, topping the consensus estimate of C$0.18 by C$0.01. Savaria had a net margin of 4.52% and a return on equity of 7.55%. The firm had revenue of C$216.84 million during the quarter, compared to analysts’ expectations of C$214.78 million.

Several other research analysts have also recently commented on SIS. TD Securities upped their target price on shares of Savaria from C$21.00 to C$23.00 and gave the stock a “buy” rating in a research report on Friday. National Bankshares upped their target price on shares of Savaria from C$19.50 to C$20.50 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Stifel Nicolaus decreased their price objective on shares of Savaria from C$25.00 to C$23.00 and set a “buy” rating for the company in a report on Friday, March 8th. Scotiabank increased their price objective on shares of Savaria from C$17.00 to C$21.50 and gave the company an “outperform” rating in a report on Friday, March 8th. Finally, Cormark increased their price objective on shares of Savaria from C$18.00 to C$21.00 in a report on Friday, March 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$21.64.

Savaria Price Performance

TSE SIS opened at C$16.74 on Friday. Savaria has a 52 week low of C$12.21 and a 52 week high of C$17.70. The company has a current ratio of 1.98, a quick ratio of 0.91 and a debt-to-equity ratio of 58.17. The stock has a market cap of C$1.19 billion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 42.72 and a beta of 0.85. The company has a 50-day moving average price of C$16.60 and a two-hundred day moving average price of C$15.20.

Insider Buying and Selling

In other Savaria news, Senior Officer Jean-Philippe De Montigny bought 17,980 shares of Savaria stock in a transaction that occurred on Thursday, January 18th. The stock was purchased at an average cost of C$14.94 per share, for a total transaction of C$268,621.20. 19.86% of the stock is currently owned by insiders.

Savaria Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, April 10th. Investors of record on Thursday, March 28th were issued a dividend of $0.043 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Wednesday, March 27th. Savaria’s payout ratio is 91.23%.

About Savaria

Savaria Corporation provides accessibility solutions for the elderly and physically challenged people in Canada, the United States, Europe, and internationally. The company operates in two segments, Accessibility and Patient Care. The Accessibility segment designs, manufactures, distributes, and installs a portfolio of accessibility products, including commercial and home elevators, stairlifts, platform lifts, and wheelchair lowered-floor accessible conversions for selected brands of minivans, personal, residential, or commercial applications.