SunOpta Inc. Forecasted to Post Q4 2016 Earnings of $0.07 Per Share (STKL)
SunOpta Inc. (NASDAQ:STKL) – DA Davidson decreased their Q4 2016 earnings estimates for shares of SunOpta in a report issued on Monday. DA Davidson analyst E. Gottlieb now expects that the firm will post earnings per share of $0.07 for the quarter, down from their previous estimate of $0.09. DA Davidson has a “Buy” rating and a $7.50 price objective on the stock. DA Davidson also issued estimates for SunOpta’s Q1 2017 earnings at $0.10 EPS, Q2 2017 earnings at $0.11 EPS, Q4 2017 earnings at $0.11 EPS and FY2017 earnings at $0.40 EPS.
SunOpta (NASDAQ:STKL) last released its earnings results on Wednesday, August 10th. The company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The company had revenue of $348.10 million for the quarter, compared to analysts’ expectations of $361.55 million. SunOpta had a negative net margin of 3.33% and a positive return on equity of 3.45%. SunOpta’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 earnings per share.
A number of other brokerages also recently issued reports on STKL. Citigroup Inc. upped their price target on SunOpta from $5.50 to $8.00 and gave the stock a “buy” rating in a research report on Friday, September 9th. Zacks Investment Research downgraded SunOpta from a “hold” rating to a “sell” rating in a research report on Wednesday. Wunderlich began coverage on SunOpta in a research report on Tuesday. They set a “buy” rating and a $10.00 price target on the stock. TheStreet raised SunOpta from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Finally, AltaCorp Capital reaffirmed an “outperform” rating on shares of SunOpta in a research report on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $8.88.
SunOpta (NASDAQ:STKL) traded down 1.04% during trading on Wednesday, reaching $6.65. The company had a trading volume of 87,247 shares. The stock has a 50 day moving average price of $6.77 and a 200 day moving average price of $5.41. The firm’s market capitalization is $569.33 million. SunOpta has a 52 week low of $3.16 and a 52 week high of $7.40.
Institutional investors have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL increased its position in SunOpta by 1.0% in the second quarter. Gamco Investors INC. ET AL now owns 29,300 shares of the company’s stock valued at $123,000 after buying an additional 300 shares during the last quarter. Quantum Capital Management increased its position in SunOpta by 71.3% in the first quarter. Quantum Capital Management now owns 29,598 shares of the company’s stock valued at $132,000 after buying an additional 12,315 shares during the last quarter. KCG Holdings Inc. increased its position in SunOpta by 194.2% in the second quarter. KCG Holdings Inc. now owns 32,962 shares of the company’s stock valued at $138,000 after buying an additional 21,759 shares during the last quarter. Engaged Capital LLC purchased a new position in SunOpta during the second quarter valued at about $220,000. Finally, A.R.T. Advisors LLC purchased a new position in SunOpta during the second quarter valued at about $292,000. 77.01% of the stock is currently owned by hedge funds and other institutional investors.
SunOpta Company Profile
SunOpta Inc operates businesses focused on a healthy products portfolio. The Company operates through two segments: Global Ingredients and Consumer Products. Its Global Ingredients segment aggregates its North American and international raw material sourcing and supply operating segments focused on the procurement, processing and sale of specialty and organic grains and seeds, fruits, grain- and cocoa-based ingredients, and other commodities.
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