FY2024 Earnings Estimate for SunOpta Issued By William Blair

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) – Stock analysts at William Blair reduced their FY2024 EPS estimates for shares of SunOpta in a research note issued to investors on Tuesday, November 5th. William Blair analyst J. Andersen now forecasts that the company will post earnings of $0.11 per share for the year, down from their previous forecast of $0.12. The consensus estimate for SunOpta’s current full-year earnings is $0.14 per share.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its earnings results on Tuesday, November 5th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. The business had revenue of $176.22 million for the quarter, compared to analyst estimates of $172.30 million. SunOpta had a negative net margin of 2.74% and a positive return on equity of 7.92%.

Several other research analysts have also recently weighed in on the stock. DA Davidson reissued a “buy” rating and set a $9.00 price target on shares of SunOpta in a research report on Thursday, October 10th. StockNews.com lowered shares of SunOpta from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Finally, Stephens raised their price target on shares of SunOpta from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

SunOpta Stock Down 2.1 %

Shares of NASDAQ:STKL opened at $7.29 on Friday. SunOpta has a 52-week low of $3.85 and a 52-week high of $7.59. The stock has a market cap of $870.79 million, a P/E ratio of -40.50 and a beta of 1.83. The business has a fifty day moving average of $6.33 and a two-hundred day moving average of $5.89. The company has a quick ratio of 0.61, a current ratio of 1.20 and a debt-to-equity ratio of 1.61.

Insider Buying and Selling

In other news, insider Robert Duchscher sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $7.33, for a total value of $366,500.00. Following the sale, the insider now directly owns 42,971 shares of the company’s stock, valued at approximately $314,977.43. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.48% of the company’s stock.

Institutional Investors Weigh In On SunOpta

A number of institutional investors have recently modified their holdings of the company. First Bank & Trust lifted its stake in SunOpta by 7.9% during the 3rd quarter. First Bank & Trust now owns 25,409 shares of the company’s stock worth $162,000 after acquiring an additional 1,856 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of SunOpta by 0.9% during the second quarter. Mackenzie Financial Corp now owns 254,678 shares of the company’s stock worth $1,370,000 after purchasing an additional 2,155 shares in the last quarter. Creative Planning lifted its position in shares of SunOpta by 9.3% during the third quarter. Creative Planning now owns 30,716 shares of the company’s stock worth $196,000 after purchasing an additional 2,617 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of SunOpta by 13.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,913 shares of the company’s stock valued at $185,000 after purchasing an additional 3,171 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of SunOpta by 10.5% in the second quarter. The Manufacturers Life Insurance Company now owns 36,958 shares of the company’s stock valued at $200,000 after purchasing an additional 3,521 shares in the last quarter. 85.39% of the stock is owned by institutional investors and hedge funds.

About SunOpta

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products in the United States, Canada, and internationally. The company provides plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases under the Dream and West Life brands; oat-based creamers under the SOWN brand; ready-to-drink protein shakes; and nut, grain, seed, and legume based beverages; packaged teas and concentrates; and meat and vegetable broths and stocks.