Superior Plus (TSE:SPB) Trading Down 21.1% After Analyst Downgrade

Superior Plus Corp. (TSE:SPB) fell 21.1% during trading on Friday after CIBC lowered their price target on the stock from C$9.00 to C$8.50. The stock traded as low as C$6.06 and last traded at C$6.29. 5,946,604 shares were traded during mid-day trading, an increase of 655% from the average session volume of 787,353 shares. The stock had previously closed at C$7.97.

Other research analysts have also issued research reports about the company. TD Securities raised their price objective on Superior Plus from C$8.00 to C$9.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. Raymond James Financial lowered their price objective on shares of Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 14th. BMO Capital Markets boosted their price target on Superior Plus from C$8.00 to C$10.00 in a research note on Friday, October 10th. Finally, Desjardins reduced their price objective on Superior Plus from C$10.50 to C$9.75 and set a “buy” rating for the company in a research note on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$9.41.

Superior Plus Stock Down 21.1%

The stock has a market cap of C$1.40 billion, a PE ratio of 29.95 and a beta of 0.18. The business has a fifty day moving average of C$7.83 and a 200-day moving average of C$7.62. The company has a debt-to-equity ratio of 193.35, a current ratio of 0.67 and a quick ratio of 0.46.

Superior Plus (TSE:SPB) last issued its earnings results on Thursday, November 13th. The company reported C($0.47) earnings per share for the quarter. Superior Plus had a net margin of 1.80% and a return on equity of 4.21%. The firm had revenue of C$470.64 million for the quarter.

Superior Plus Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th were paid a $0.045 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $0.18 dividend on an annualized basis and a yield of 2.9%. Superior Plus’s dividend payout ratio is 109.01%.

About Superior Plus

Superior is a leading North American distributor of propane, compressed natural gas, renewable energy and related products and services, servicing approximately 770,000 customer locations in the U.S. and Canada. Through its primary businesses, propane distribution and CNG, RNG and hydrogen distribution, Superior safely delivers clean burning fuels to residential, commercial, utility, agricultural and industrial customers not connected to a pipeline.