High Liner Foods (TSE:HLF) Releases Earnings Results

High Liner Foods (TSE:HLF) released its quarterly earnings results on Wednesday. The company reported C$0.98 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$410.43 million during the quarter. High Liner Foods had a return on equity of 6.30% and a net margin of 2.30%.

High Liner Foods Stock Performance

HLF stock traded up C$0.11 during mid-day trading on Wednesday, hitting C$26.95. 94,703 shares of the company were exchanged, compared to its average volume of 42,734. High Liner Foods has a 1-year low of C$13.13 and a 1-year high of C$27.12. The stock has a market capitalization of C$754.73 million, a PE ratio of 30.62 and a beta of 0.84. The business has a 50 day simple moving average of C$17.64 and a 200-day simple moving average of C$15.57. The company has a current ratio of 2.29, a quick ratio of 0.38 and a debt-to-equity ratio of 80.12.

High Liner Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 15th were given a $0.1750 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.70 annualized dividend and a dividend yield of 2.6%. High Liner Foods’s dividend payout ratio is presently 57.23%.

Analyst Ratings Changes

A number of research firms have recently commented on HLF. ATB Cormark Capital Markets downgraded shares of High Liner Foods from a “speculative buy” rating to a “tender” rating and increased their price objective for the stock from C$21.00 to C$27.00 in a research note on Tuesday, October 27th. Ventum Capital set a C$16.50 target price on shares of High Liner Foods and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Raymond James Financial boosted their target price on shares of High Liner Foods from C$16.50 to C$27.00 and gave the stock a “market perform” rating in a report on Tuesday, October 27th. Ventum upped their price target on shares of High Liner Foods from C$16.50 to C$27.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 27th. Finally, Canaccord Genuity Group lowered shares of High Liner Foods from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 26th. Seven equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, High Liner Foods currently has an average rating of “Hold” and a consensus price target of C$22.29.

High Liner Foods Company Profile

High Liner Foods is the leading North American processor and marketer of value-added frozen seafood. Their retail branded products are sold throughout the United States, Canada and Mexico under the High Liner, Fisher Boy, Sea Cuisine and C. Wirthy & Co. labels, and are available in most grocery and club stores. They also sell branded products under the High Liner, Icelandic Seafood, and FPI labels to restaurants and institutions, and are a major supplier of private-label, value-added frozen seafood products to North American food retailers and foodservice distributors.