Rogers Sugar (TSE:RSI) Sets New 1-Year High – Here’s Why

Rogers Sugar Inc. (TSE:RSI) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$6.84 and last traded at C$6.82, with a volume of 70180 shares trading hands. The stock had previously closed at C$6.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Scotiabank downgraded Rogers Sugar from a “hold” rating to a “strong sell” rating and cut their price target for the stock from C$6.50 to C$6.00 in a research note on Friday, February 6th. TD Securities upgraded shares of Rogers Sugar to a “hold” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$6.90.

Rogers Sugar Trading Up 0.3%

The company has a fifty day moving average of C$6.61 and a two-hundred day moving average of C$6.38. The company has a current ratio of 2.22, a quick ratio of 0.56 and a debt-to-equity ratio of 88.50. The stock has a market capitalization of C$873.49 million, a price-to-earnings ratio of 12.85 and a beta of 0.78.

Rogers Sugar (TSE:RSI) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$0.14 EPS for the quarter. Rogers Sugar had a return on equity of 14.94% and a net margin of 5.58%.The company had revenue of C$280.62 million for the quarter. On average, research analysts expect that Rogers Sugar Inc. will post 0.5597668 EPS for the current year.

Rogers Sugar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were paid a $0.09 dividend. The ex-dividend date was Friday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.3%. Rogers Sugar’s dividend payout ratio is currently 67.92%.

Insider Activity

In other Rogers Sugar news, insider Michael Walton sold 18,400 shares of Rogers Sugar stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of C$6.82, for a total transaction of C$125,488.00. Following the completion of the transaction, the insider directly owned 212,747 shares of the company’s stock, valued at approximately C$1,450,934.54. This trade represents a 7.96% decrease in their ownership of the stock. Over the last ninety days, insiders sold 58,000 shares of company stock valued at $395,419. Corporate insiders own 0.28% of the company’s stock.

About Rogers Sugar

Rogers Sugar Inc is a Canada based sugar producing company. The company along with its subsidiaries is principally engaged in refining, packaging, and marketing sugar products. The products offered by the company include iced tea mix, stevia, yellow sugar, Cubes, Coconut sugar, and other related sugar products. It operates in the following reportable segments: Sugar and Maple products, of which the majority of the revenue comes from sugar products. Its geographical segments include Canada, which is the key revenue generator; the United States; Europe; and others.