SunOpta (NASDAQ:STKL) Posts Quarterly Earnings Results, Meets Expectations

SunOpta (NASDAQ:STKL) (TSE:SOY) announced its quarterly earnings results on Tuesday. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02, Zacks reports. The firm had revenue of $176.22 million during the quarter, compared to the consensus estimate of $172.30 million. SunOpta had a negative net margin of 23.23% and a positive return on equity of 6.51%. SunOpta updated its FY 2024 guidance to EPS.

SunOpta Trading Up 2.6 %

NASDAQ STKL traded up $0.19 during trading on Thursday, reaching $7.45. 892,922 shares of the stock traded hands, compared to its average volume of 811,939. SunOpta has a fifty-two week low of $3.81 and a fifty-two week high of $7.59. The company has a quick ratio of 0.61, a current ratio of 1.27 and a debt-to-equity ratio of 1.67. The firm has a market cap of $889.90 million, a price-to-earnings ratio of -5.22 and a beta of 1.83. The stock’s 50-day moving average price is $6.27 and its 200 day moving average price is $5.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on STKL shares. DA Davidson reaffirmed a “buy” rating and set a $9.00 price target on shares of SunOpta in a report on Thursday, October 10th. StockNews.com lowered shares of SunOpta from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Finally, Stephens increased their price target on shares of SunOpta from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

SunOpta Company Profile

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products in the United States, Canada, and internationally. The company provides plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases under the Dream and West Life brands; oat-based creamers under the SOWN brand; ready-to-drink protein shakes; and nut, grain, seed, and legume based beverages; packaged teas and concentrates; and meat and vegetable broths and stocks.