Q1 2024 EPS Estimates for Superior Plus Corp. Cut by Analyst (TSE:SPB)

Superior Plus Corp. (TSE:SPB) – Equities research analysts at Atb Cap Markets dropped their Q1 2024 EPS estimates for shares of Superior Plus in a note issued to investors on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now forecasts that the company will post earnings of $0.32 per share for the quarter, down from their previous estimate of $0.52. The consensus estimate for Superior Plus’ current full-year earnings is $0.44 per share. Atb Cap Markets also issued estimates for Superior Plus’ FY2024 earnings at $0.18 EPS.

Superior Plus (TSE:SPB) last issued its earnings results on Wednesday, February 21st. The company reported C$0.27 EPS for the quarter, missing the consensus estimate of C$0.31 by C($0.04). The firm had revenue of C$985.80 million during the quarter, compared to analyst estimates of C$1.21 billion. Superior Plus had a net margin of 1.54% and a return on equity of 4.77%.

SPB has been the subject of a number of other reports. CIBC lowered their price objective on shares of Superior Plus from C$16.00 to C$14.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Raymond James cut shares of Superior Plus from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from C$12.50 to C$11.50 in a research report on Thursday, January 4th. Scotiabank lowered their price objective on shares of Superior Plus from C$12.75 to C$12.00 and set a “sector perform” rating for the company in a research report on Friday, February 23rd. Finally, TD Securities lowered their price objective on shares of Superior Plus from C$13.50 to C$13.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Superior Plus presently has an average rating of “Moderate Buy” and a consensus price target of C$12.69.

Superior Plus Price Performance

SPB stock opened at C$9.36 on Friday. The company has a 50 day simple moving average of C$9.67 and a 200 day simple moving average of C$9.67. The stock has a market cap of C$2.33 billion, a price-to-earnings ratio of 40.70 and a beta of 0.79. Superior Plus has a 1 year low of C$9.05 and a 1 year high of C$10.90. The company has a debt-to-equity ratio of 140.14, a current ratio of 0.87 and a quick ratio of 0.46.

Superior Plus Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 7.69%. The ex-dividend date was Wednesday, March 27th. Superior Plus’s payout ratio is 313.04%.

Insiders Place Their Bets

In other news, Director Allan Angus Macdonald acquired 53,022 shares of Superior Plus stock in a transaction dated Thursday, February 29th. The shares were bought at an average cost of C$9.45 per share, with a total value of C$500,983.67. Insiders own 0.49% of the company’s stock.

About Superior Plus

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.