Superior Plus (TSE:SPB) Reaches New 52-Week Low – Here’s Why

Shares of Superior Plus Corp. (TSE:SPB) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as C$5.15 and last traded at C$5.59, with a volume of 1721408 shares trading hands. The stock had previously closed at C$6.75.

Wall Street Analysts Forecast Growth

SPB has been the topic of a number of recent research reports. National Bank Financial lowered Superior Plus from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Desjardins reduced their target price on Superior Plus from C$10.50 to C$9.50 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. National Bankshares reduced their target price on Superior Plus from C$10.00 to C$9.00 in a research note on Thursday, August 15th. Cibc World Mkts lowered Superior Plus from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 15th. Finally, Scotiabank cut their price target on Superior Plus from C$12.00 to C$9.00 in a report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Superior Plus presently has an average rating of “Moderate Buy” and an average target price of C$9.91.

Superior Plus Trading Up 13.8 %

The firm has a market capitalization of C$1.58 billion, a price-to-earnings ratio of -127.40 and a beta of 0.76. The company has a debt-to-equity ratio of 133.90, a quick ratio of 0.46 and a current ratio of 0.75. The business has a fifty day moving average price of C$7.33 and a 200 day moving average price of C$8.27.

Superior Plus (TSE:SPB) last released its quarterly earnings data on Tuesday, August 13th. The company reported C($0.27) EPS for the quarter, missing analysts’ consensus estimates of C($0.19) by C($0.08). Superior Plus had a positive return on equity of 1.17% and a negative net margin of 0.10%. The firm had revenue of C$578.62 million for the quarter, compared to analyst estimates of C$710.53 million.

Superior Plus Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.045 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.18 annualized dividend and a yield of 2.83%. Superior Plus’s dividend payout ratio is currently -1,440.00%.

Superior Plus Company Profile

Superior Plus Corp. distributes and markets propane, compressed natural gas and renewable energy in both the United States and Canada. The company operates through The United States Retail Propane Distribution (U.S. Propane), Canadian Retail Propane Distribution (Canadian Propane), and North American Wholesale Propane Distribution (Wholesale Propane), and Certarus segments.