Desjardins Has Bearish Estimate for Savaria FY2024 Earnings

Savaria Co. (TSE:SIS) – Analysts at Desjardins cut their FY2024 earnings estimates for shares of Savaria in a research report issued on Monday, October 21st. Desjardins analyst F. Tremblay now expects that the company will earn $0.69 per share for the year, down from their previous estimate of $0.70. Desjardins has a “Buy” rating and a $26.00 price target on the stock. The consensus estimate for Savaria’s current full-year earnings is $1.20 per share. Desjardins also issued estimates for Savaria’s Q4 2024 earnings at $0.19 EPS.

Several other equities analysts have also recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Savaria from C$24.00 to C$25.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Raymond James upped their target price on shares of Savaria from C$25.00 to C$27.50 and gave the company an “outperform” rating in a research note on Friday, September 13th. Scotiabank set a C$25.00 target price on shares of Savaria and gave the company an “outperform” rating in a research note on Thursday, September 26th. National Bankshares raised their price target on Savaria from C$21.00 to C$22.00 in a research note on Thursday, August 8th. Finally, TD Securities upped their price objective on Savaria from C$23.00 to C$24.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Savaria has an average rating of “Buy” and an average target price of C$24.79.

Savaria Stock Performance

Shares of SIS stock opened at C$22.45 on Wednesday. The company has a debt-to-equity ratio of 56.50, a quick ratio of 0.91 and a current ratio of 1.94. The company has a market capitalization of C$1.60 billion, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 42.72 and a beta of 0.90. The company’s 50-day moving average is C$21.21 and its 200 day moving average is C$19.00. Savaria has a one year low of C$12.21 and a one year high of C$23.92.

Savaria (TSE:SIS) last announced its quarterly earnings data on Wednesday, August 7th. The company reported C$0.22 EPS for the quarter, beating the consensus estimate of C$0.20 by C$0.02. Savaria had a net margin of 5.25% and a return on equity of 8.95%. The company had revenue of C$221.34 million for the quarter, compared to the consensus estimate of C$213.08 million.

Savaria Increases Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, October 9th. Investors of record on Monday, September 30th were given a dividend of $0.045 per share. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Savaria’s previous monthly dividend of $0.04. This represents a $0.54 annualized dividend and a yield of 2.41%. Savaria’s payout ratio is 83.08%.

Insider Activity at Savaria

In related news, Director Sylvain Dumoulin sold 5,000 shares of Savaria stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of C$22.00, for a total transaction of C$110,000.00. In related news, Director Jean-Louis Chapdelaine sold 25,000 shares of Savaria stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of C$20.84, for a total transaction of C$521,000.00. Also, Director Sylvain Dumoulin sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of C$22.00, for a total value of C$110,000.00. Over the last three months, insiders have sold 50,002 shares of company stock worth $1,046,042. Corporate insiders own 17.45% of the company’s stock.

Savaria Company Profile

Savaria Corporation provides accessibility solutions for the elderly and physically challenged people in Canada, the United States, Europe, and internationally. The company operates in two segments, Accessibility and Patient Care. The Accessibility segment designs, manufactures, distributes, and installs a portfolio of accessibility products, including commercial and home elevators, stairlifts, platform lifts, and wheelchair lowered-floor accessible conversions for selected brands of minivans, personal, residential, or commercial applications.