StorageVault Canada (TSE:SVI) Announces Earnings Results

StorageVault Canada (TSE:SVI) issued its quarterly earnings data on Wednesday. The company reported C($0.02) earnings per share for the quarter, FiscalAI reports. The company had revenue of C$91.09 million for the quarter. StorageVault Canada had a negative net margin of 4.28% and a negative return on equity of 14.88%.

StorageVault Canada Price Performance

Shares of StorageVault Canada stock traded down C$0.04 during trading hours on Wednesday, hitting C$4.83. 230,896 shares of the company’s stock traded hands, compared to its average volume of 321,021. The stock has a market capitalization of C$1.77 billion, a price-to-earnings ratio of -120.75 and a beta of 0.77. StorageVault Canada has a 12-month low of C$4.11 and a 12-month high of C$5.39. The company has a fifty day simple moving average of C$4.57 and a 200-day simple moving average of C$4.67.

Analysts Set New Price Targets

SVI has been the subject of several recent analyst reports. Raymond James Financial upgraded shares of StorageVault Canada from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from C$5.50 to C$5.25 in a research note on Monday, June 1st. National Bank Financial set a C$6.25 price objective on shares of StorageVault Canada and gave the company an “outperform” rating in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, StorageVault Canada currently has a consensus rating of “Buy” and a consensus target price of C$5.75.

Insider Buying and Selling at StorageVault Canada

In related news, insider Access Self Storage Inc. purchased 89,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 15th. The shares were bought at an average cost of C$4.60 per share, with a total value of C$412,620.00. Following the acquisition, the insider owned 136,992,005 shares of the company’s stock, valued at C$630,163,223. This represents a 0.07% increase in their ownership of the stock. Company insiders own 38.49% of the company’s stock.

About StorageVault Canada

StorageVault Canada Inc is engaged in the business of owning, operating, and leasing storage to individual and commercial customers across Canada. The company operates through three segments. Its Self Storage segment consists of renting space at the company’s property for short or long-term storage which also includes space for storing vehicles and use for small commercial operations. The Portable Storage segment involves delivering a portable storage unit to the customer. The Management Division involves revenues generated from the management of stores owned by third parties.