Saputo (TSE:SAP) Announces Earnings Results, Beats Expectations By $0.09 EPS

Saputo (TSE:SAPGet Rating) announced its earnings results on Thursday. The company reported C$0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.30 by C$0.09, reports. The firm had revenue of C$4.33 billion for the quarter, compared to analyst estimates of C$4.20 billion.

Saputo Stock Up 0.1 %

TSE SAP opened at C$33.99 on Friday. The company has a debt-to-equity ratio of 65.26, a current ratio of 1.55 and a quick ratio of 0.62. The company’s 50 day simple moving average is C$28.97 and its 200 day simple moving average is C$28.97. Saputo has a 12 month low of C$24.61 and a 12 month high of C$37.09. The company has a market capitalization of C$14.20 billion and a P/E ratio of 51.50.

Saputo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 28th. Shareholders of record on Tuesday, June 21st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, June 20th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.12%. Saputo’s dividend payout ratio (DPR) is 108.33%.

Analyst Upgrades and Downgrades

SAP has been the topic of a number of analyst reports. Scotiabank decreased their target price on shares of Saputo from C$37.00 to C$36.00 in a research report on Friday, June 10th. BMO Capital Markets increased their price target on shares of Saputo from C$39.00 to C$41.00 in a research note on Friday. CIBC increased their price target on shares of Saputo from C$35.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Friday. TD Securities increased their price target on shares of Saputo from C$39.00 to C$42.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada increased their price target on shares of Saputo from C$35.00 to C$40.00 and gave the stock an “outperform” rating in a research note on Friday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$38.67.

Insider Buying and Selling

In related news, Director Louis-Philippe Carrière sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of C$28.54, for a total value of C$998,900.00. Following the sale, the director now directly owns 46,435 shares in the company, valued at approximately C$1,325,254.90. In other news, Director Haig Poutchigian bought 3,329 shares of the company’s stock in a transaction dated Tuesday, June 14th. The shares were acquired at an average cost of C$27.03 per share, with a total value of C$89,982.87. Following the completion of the transaction, the director now directly owns 8,741 shares in the company, valued at approximately C$236,269.23. Also, Director Louis-Philippe Carrière sold 35,000 shares of Saputo stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of C$28.54, for a total transaction of C$998,900.00. Following the completion of the transaction, the director now directly owns 46,435 shares in the company, valued at C$1,325,254.90.

Saputo Company Profile

(Get Rating)

Saputo Inc produces, markets, and distributes dairy products in Canada, the United States, Argentina, Australia, and the United Kingdom. The company offers cheeses, including mozzarella and cheddar; specialty cheeses, such as ricotta, provolone, blue, parmesan, goat cheese, feta, romano, and havarti; fine cheeses comprising brie and camembert; and other cheeses that include brick, colby, farmer, munster, monterey jack, fresh curd, and processed cheeses.

Recommended Stories

Earnings History for Saputo (TSE:SAP)

Receive News & Ratings for Saputo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Saputo and related companies with MarketBeat.com's FREE daily email newsletter.