Superior Plus (TSE:SPB) Stock Price Down 22.2% – Here’s What Happened

Superior Plus Corp. (TSE:SPB)’s share price was down 22.2% during trading on Friday . The company traded as low as C$6.20 and last traded at C$6.20. Approximately 2,442,838 shares changed hands during mid-day trading, an increase of 220% from the average daily volume of 764,542 shares. The stock had previously closed at C$7.97.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SPB shares. Desjardins lowered their target price on Superior Plus from C$10.50 to C$9.75 and set a “buy” rating for the company in a report on Wednesday, August 13th. TD Securities increased their target price on Superior Plus from C$8.00 to C$9.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. Raymond James Financial cut their target price on Superior Plus from C$10.50 to C$10.00 and set an “outperform” rating on the stock in a research note on Thursday, August 14th. Finally, BMO Capital Markets upped their price target on shares of Superior Plus from C$8.00 to C$10.00 in a research report on Friday, October 10th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$9.53.

Superior Plus Trading Down 22.2%

The business’s 50-day simple moving average is C$7.85 and its 200-day simple moving average is C$7.63. The company has a market cap of C$1.38 billion, a PE ratio of 29.52 and a beta of 0.18. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 193.35.

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

Superior Plus Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th were issued 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 (DPR) is 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.