North West (TSE:NWC) Sets New 1-Year High After Earnings Beat

Shares of The North West Company Inc. (TSE:NWC) hit a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as C$47.07 and last traded at C$47.07, with a volume of 9410 shares traded. The stock had previously closed at C$45.65.

The company reported C$0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.71 by C$0.02. The business had revenue of C$646.49 million during the quarter. North West had a return on equity of 20.19% and a net margin of 5.37%.

North West Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from North West’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.16%. North West’s dividend payout ratio (DPR) is presently 56.32%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NWC. BMO Capital Markets increased their price objective on North West from C$44.00 to C$56.00 in a report on Friday. TD Securities raised their price target on North West from C$52.00 to C$59.00 in a research note on Friday. CIBC raised their price target on North West from C$43.00 to C$44.00 and gave the company a “neutral” rating in a research note on Thursday, June 6th. Finally, Royal Bank of Canada raised their price target on North West from C$40.00 to C$47.00 in a research note on Friday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$49.80.

Insider Transactions at North West

In other news, Director George Mcconnell Daniel sold 5,665 shares of North West stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of C$42.54, for a total transaction of C$240,989.10. In other news, Senior Officer Walter Pickett sold 767 shares of North West stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of C$42.64, for a total transaction of C$32,704.88. Also, Director George Mcconnell Daniel sold 5,665 shares of North West stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of C$42.54, for a total value of C$240,989.10. In the last three months, insiders sold 11,662 shares of company stock worth $497,015. 0.12% of the stock is owned by company insiders.

North West Price Performance

The company has a 50 day moving average of C$44.21 and a 200-day moving average of C$41.16. The firm has a market capitalization of C$2.41 billion, a P/E ratio of 18.30, a P/E/G ratio of 1.11 and a beta of 0.63. The company has a current ratio of 2.14, a quick ratio of 0.64 and a debt-to-equity ratio of 60.46.

North West Company Profile

The North West Company Inc, through its subsidiaries, engages in the retail of food and everyday products and services to rural communities and urban neighborhood markets in northern Canada, rural Alaska, the South Pacific, and the Caribbean. The company operates Northern stores, which offers food, financial services, and general merchandise; NorthMart stores that provides fresh food products, apparel, and health products and services; and Quickstop convenience stores that provides ready-to-eat food products, and fuel and related services.