Superior Plus (TSE:SPB) Shares Down 21.1% on Analyst Downgrade

Shares of Superior Plus Corp. (TSE:SPB) traded down 21.1% on Saturday after CIBC lowered their price target on the stock from C$9.00 to C$8.50. The stock 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.

Several other equities analysts have also weighed in on the stock. Desjardins reduced their price objective on shares of Superior Plus from C$10.50 to C$9.75 and set a “buy” rating for the company in a research report on Wednesday, August 13th. BMO Capital Markets boosted their target price on Superior Plus from C$8.00 to C$10.00 in a research report on Friday, October 10th. Raymond James Financial reduced their target price on Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating for the company in a report on Thursday, August 14th. Finally, TD Securities boosted their price objective on Superior Plus from C$8.00 to C$9.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$9.41.

Superior Plus Stock Performance

The stock has a market capitalization of C$1.40 billion, a PE ratio of 29.95 and a beta of 0.18. The company has a debt-to-equity ratio of 193.35, a quick ratio of 0.46 and a current ratio of 0.67. The firm has a 50 day moving average of C$7.83 and a 200-day moving average of C$7.62.

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

Superior Plus Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were paid a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, September 29th. Superior Plus’s dividend payout ratio is currently 109.01%.

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.