Saputo (TSE:SAP) Stock Passes Above 200-Day Moving Average – Here’s Why

Shares of Saputo Inc. (TSE:SAP) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$37.57 and traded as high as C$42.50. Saputo shares last traded at C$42.47, with a volume of 1,258,612 shares.

Analysts Set New Price Targets

SAP has been the subject of several research analyst reports. TD Securities increased their price objective on shares of Saputo from C$51.00 to C$52.00 and gave the company a “buy” rating in a research report on Sunday, February 15th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Saputo from C$40.00 to C$44.00 in a research note on Friday, January 30th. BMO Capital Markets upped their target price on Saputo from C$41.00 to C$42.00 and gave the company a “market perform” rating in a research report on Monday, February 9th. Royal Bank Of Canada raised their target price on Saputo from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Sunday, February 8th. Finally, National Bank Financial boosted their price target on Saputo from C$45.00 to C$46.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$46.25.

Saputo Trading Up 0.6%

The stock has a market cap of C$17.21 billion, a PE ratio of 27.22, a PEG ratio of 0.56 and a beta of 0.04. The company’s fifty day moving average is C$41.58 and its 200-day moving average is C$37.57. The company has a debt-to-equity ratio of 51.68, a current ratio of 1.53 and a quick ratio of 0.67.

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

Saputo Announces Dividend

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