Saputo (TSE:SAP) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Saputo Inc. (TSE:SAP) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$34.20 and traded as high as C$39.78. Saputo shares last traded at C$39.47, with a volume of 1,115,427 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SAP shares. BMO Capital Markets increased their price target on Saputo from C$34.00 to C$37.00 in a report on Monday, November 10th. Jefferies Financial Group upped their target price on Saputo from C$38.00 to C$40.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Desjardins lifted their target price on Saputo from C$40.00 to C$45.00 and gave the stock a “buy” rating in a report on Friday, December 19th. TD Securities boosted their price target on Saputo from C$44.00 to C$49.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Finally, Scotiabank increased their price target on Saputo from C$36.00 to C$37.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$40.38.

Saputo Stock Down 0.9%

The company has a debt-to-equity ratio of 51.68, a quick ratio of 0.67 and a current ratio of 1.53. The stock’s 50 day simple moving average is C$38.91 and its 200 day simple moving average is C$34.20. The firm has a market cap of C$16.18 billion, a P/E ratio of -197.35, a price-to-earnings-growth ratio of 0.56 and a beta of 0.18.

Saputo (TSE:SAP) last released its quarterly earnings data on Thursday, November 6th. The company reported C$0.45 earnings per share for the quarter. The firm had revenue of C$4.72 billion for the quarter. Saputo had a negative net margin of 0.84% and a negative return on equity of 2.20%. Research analysts anticipate that Saputo Inc. will post 1.7735369 EPS for the current year.

Saputo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, December 12th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, December 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. Saputo’s payout ratio is -385.00%.

About Saputo

Saputo is a global dairy processor domiciled in Canada (28% of fiscal 2022 sales) with operations in the United States (43%), the U.K. (6%), and other international markets (23%). It sells cheese, cream, fluid milk, and other dairy products. In the retail segment (50% of revenue), its mix of brands include Saputo, Armstrong, Cheer, Cathedral City, and Frylight. Saputo also competes in food service (30% of revenue) and industrials (20% of revenue), which houses its ingredients business.