Scotiabank Issues Positive Forecast for Saputo (TSE:SAP) Stock Price

Saputo (TSE:SAP) had its price target increased by Scotiabank from C$47.00 to C$49.00 in a research report released on Friday,BayStreet.CA reports. They currently have an outperform rating on the stock.

SAP has been the topic of a number of other reports. TD Securities raised their price target on shares of Saputo from C$49.00 to C$51.00 and gave the company a “buy” rating in a report on Monday, February 9th. Royal Bank Of Canada increased their target price on shares of Saputo from C$47.00 to C$50.00 and gave the company an “outperform” rating in a research report on Sunday, February 8th. Canadian Imperial Bank of Commerce lifted their price target on shares of Saputo from C$40.00 to C$44.00 in a report on Friday, January 30th. Desjardins upped their price target on Saputo from C$45.00 to C$47.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Finally, National Bank Financial raised their price objective on Saputo from C$45.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Saputo presently has an average rating of “Moderate Buy” and an average target price of C$46.13.

Saputo Stock Down 2.8%

Shares of TSE SAP opened at C$42.38 on Friday. Saputo has a 12-month low of C$23.94 and a 12-month high of C$44.00. The stock’s fifty day simple moving average is C$41.25 and its two-hundred day simple moving average is C$36.76. The stock has a market capitalization of C$17.17 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 0.56 and a beta of 0.04. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 51.68.

Saputo (TSE:SAP) last issued its quarterly earnings data on Thursday, February 5th. The company reported C$0.57 earnings per share for the quarter. Saputo had a negative return on equity of 2.20% and a negative net margin of 0.84%.The firm had revenue of C$4.89 billion during the quarter. As a group, analysts expect that Saputo will post 1.7735369 EPS for the current fiscal year.

Saputo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, December 12th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Tuesday, December 2nd. Saputo’s payout ratio is presently 50.00%.

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.