FY2018 Earnings Estimate for Saputo Inc. (TSE:SAP) Issued By Desjardins
Saputo Inc. (TSE:SAP) – Investment analysts at Desjardins decreased their FY2018 EPS estimates for Saputo in a research note issued to investors on Wednesday. Desjardins analyst K. Howlett now forecasts that the company will earn $2.07 per share for the year, down from their prior estimate of $2.08. Desjardins has a “Buy” rating and a $47.00 price target on the stock. Desjardins also issued estimates for Saputo’s Q4 2018 earnings at $0.48 EPS and FY2019 earnings at $2.25 EPS.
Several other equities research analysts have also commented on the stock. TD Securities raised shares of Saputo from a “hold” rating to a “buy” rating and upped their price target for the company from C$48.00 to C$49.00 in a research report on Wednesday. National Bank Financial reduced their price target on shares of Saputo from C$48.00 to C$47.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 26th. Royal Bank Of Canada raised shares of Saputo from a “sector perform” rating to an “outperform” rating and set a C$48.00 price target for the company in a research report on Wednesday, July 19th. CIBC reduced their price target on shares of Saputo from C$54.00 to C$51.00 in a research report on Friday, June 2nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a C$48.00 price target on shares of Saputo in a research report on Thursday, April 13th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of C$49.29.
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Saputo (SAP) traded down 0.11% during trading on Thursday, hitting $43.64. 370,936 shares of the stock traded hands. The firm has a 50-day moving average price of $41.52 and a 200 day moving average price of $44.46. The company has a market cap of $16.85 billion and a P/E ratio of 22.85. Saputo has a 52-week low of $39.74 and a 52-week high of $48.98.
Saputo (TSE:SAP) last posted its earnings results on Thursday, June 1st. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.48 by $0.06. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Saputo had a return on equity of 15.26% and a net margin of 6.07%.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, September 5th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.47%. This is a positive change from Saputo’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, August 31st.
In other news, Director Diane Nyisztor bought 1,000 shares of Saputo stock in a transaction that occurred on Wednesday, June 14th. The stock was bought at an average cost of C$41.93 per share, with a total value of C$41,930.00. Insiders purchased a total of 2,190 shares of company stock valued at $93,037 over the last three months.
Saputo Company Profile
Saputo Inc produces, markets, and distributes various dairy products in Canada, the United States, Argentina, and Australia. It offers a range of cheese products, such as mozzarella, American-style, specialty cheeses, cheddar, fine cheeses, and other cheeses; butter; and dairy and non-dairy extended shelf-life products, including cream and creamers, ice cream mixes, whipping creams, aerosol whipped toppings, iced coffee, and value-added milks, as well as cultured products, such as sour cream and cottage cheese.
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