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

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

A number of other analysts also recently issued reports on SPB. Raymond James Financial decreased their price target on Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating for the company in a report on Thursday, August 14th. BMO Capital Markets boosted their target price on Superior Plus from C$8.00 to C$10.00 in a research note on Friday, October 10th. Desjardins dropped their price target on shares of Superior Plus from C$10.50 to C$9.75 and set a “buy” rating on the stock in a research note on Wednesday, August 13th. Finally, TD Securities boosted their price objective on shares of Superior Plus from C$8.00 to C$9.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$9.41.

Superior Plus Stock Performance

The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 193.35. The stock has a market cap of C$1.40 billion, a price-to-earnings ratio of 29.95 and a beta of 0.18. The stock’s 50 day moving average is C$7.83 and its two-hundred day moving average is C$7.63.

Superior Plus (TSE:SPB) last posted its quarterly earnings data on Thursday, November 13th. The company reported C($0.47) EPS for the quarter. Superior Plus had a net margin of 1.80% and a return on equity of 4.21%. The business had revenue of C$470.64 million during the quarter.

Superior Plus Dividend Announcement

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