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

Superior Plus Corp. (TSE:SPB) traded down 21.1% during mid-day trading on Friday 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. 5,946,604 shares traded hands during trading, an increase of 655% from the average session volume of 787,353 shares. The stock had previously closed at C$7.97.

SPB has been the topic of a number of other reports. Desjardins cut 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. Raymond James Financial lowered their price objective on Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating for the company in a research note on Thursday, August 14th. BMO Capital Markets increased their price objective on shares of Superior Plus from C$8.00 to C$10.00 in a report on Friday, October 10th. Finally, TD Securities lifted their price objective on shares of Superior Plus from C$8.00 to C$9.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to 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 price-to-earnings ratio of 29.95 and a beta of 0.18. The business’s 50 day moving average is C$7.83 and its 200-day moving average is C$7.62. The company has a debt-to-equity ratio of 193.35, a quick ratio of 0.46 and a current ratio of 0.67.

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

Superior Plus Dividend Announcement

The company also recently declared 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. This represents a $0.18 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, September 29th. Superior Plus’s dividend payout ratio (DPR) is presently 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.