FY2024 EPS Estimates for Superior Plus Decreased by Analyst

Superior Plus Corp. (TSE:SPB) – Investment analysts at Stifel Canada reduced their FY2024 earnings estimates for Superior Plus in a research report issued to clients and investors on Monday, January 13th. Stifel Canada analyst D. Young now expects that the company will post earnings per share of ($0.01) for the year, down from their prior estimate of $0.11. Stifel Canada also issued estimates for Superior Plus’ FY2026 earnings at $0.55 EPS.

A number of other analysts have also recently issued reports on SPB. BMO Capital Markets reduced their price objective on shares of Superior Plus from C$10.00 to C$9.00 in a research note on Tuesday, October 22nd. Scotiabank cut their price target on Superior Plus from C$12.00 to C$9.00 in a research note on Monday, November 11th. Desjardins decreased their price target on Superior Plus from C$10.50 to C$9.50 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Cibc World Mkts raised Superior Plus to a “strong-buy” rating in a research note on Friday, November 8th. Finally, CIBC increased their target price on Superior Plus from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$9.95.

Superior Plus Stock Performance

TSE:SPB opened at C$6.31 on Thursday. The stock has a 50-day simple moving average of C$6.37 and a two-hundred day simple moving average of C$7.35. The company has a debt-to-equity ratio of 133.90, a quick ratio of 0.46 and a current ratio of 0.75. Superior Plus has a 52-week low of C$5.15 and a 52-week high of C$10.36. The firm has a market capitalization of C$1.57 billion, a PE ratio of -126.20 and a beta of 0.76.

Insiders Place Their Bets

In related news, Director Shawn Bradley Vammen purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was bought at an average price of C$6.35 per share, for a total transaction of C$31,750.00. Also, Director Patrick Edward Gottschalk acquired 100,000 shares of Superior Plus stock in a transaction on Friday, November 8th. The shares were bought at an average cost of C$6.32 per share, for a total transaction of C$632,150.40. Corporate insiders own 0.54% of the company’s stock.

Superior Plus Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 2.85%. The ex-dividend date was Tuesday, December 31st. Superior Plus’s dividend payout ratio is presently -1,440.00%.

Superior Plus Company Profile

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.