Saputo (TSE:SAP) Releases Earnings Results

Saputo (TSE:SAP) released its quarterly earnings data on Thursday. The company reported C$0.57 earnings per share for the quarter, FiscalAI reports. Saputo had a negative return on equity of 2.20% and a negative net margin of 0.84%.The business had revenue of C$4.89 billion for the quarter.

Saputo Trading Up 0.5%

TSE:SAP opened at C$42.74 on Friday. The stock has a 50-day simple moving average of C$40.93 and a 200-day simple moving average of C$36.28. The company has a debt-to-equity ratio of 51.68, a quick ratio of 0.67 and a current ratio of 1.53. Saputo has a 1 year low of C$23.15 and a 1 year high of C$44.00. The stock has a market cap of C$17.52 billion, a P/E ratio of -213.70, a P/E/G ratio of 0.56 and a beta of 0.04.

Saputo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, December 12th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, December 2nd. This represents a $0.80 annualized dividend and a yield of 1.9%. Saputo’s dividend payout ratio is -385.00%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SAP. National Bankshares boosted their target price on shares of Saputo from C$38.00 to C$45.00 and gave the company an “outperform” rating in a research report on Thursday, January 22nd. Desjardins lifted their target price on shares of Saputo from C$40.00 to C$45.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Jefferies Financial Group increased their target price on shares of Saputo from C$38.00 to C$40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. TD Securities increased their price objective on Saputo from C$44.00 to C$49.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Finally, BMO Capital Markets upped their price objective on Saputo from C$37.00 to C$41.00 and gave the company a “market perform” rating in a research report on Friday, January 23rd. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Saputo presently has a consensus rating of “Moderate Buy” and a consensus target price of C$43.50.

Saputo Company Profile

Saputo is a global dairy processor domiciled in Canada (28% of fiscal 2022 sales) with operations in the United States (43%), the U.K. (6%), and other international markets (23%). It sells cheese, cream, fluid milk, and other dairy products. In the retail segment (50% of revenue), its mix of brands include Saputo, Armstrong, Cheer, Cathedral City, and Frylight. Saputo also competes in food service (30% of revenue) and industrials (20% of revenue), which houses its ingredients business.