Saputo (TSE:SAP) Price Target Raised to C$49.00

Saputo (TSE:SAP) had its target price boosted by Desjardins from C$47.00 to C$49.00 in a research note released on Monday morning,BayStreet reports. The firm currently has a buy rating on the stock.

A number of other analysts have also issued reports on SAP. National Bank Financial lifted their price target on Saputo from C$47.00 to C$48.00 and gave the stock a “sector outperform” rating in a research note on Monday. Canadian Imperial Bank of Commerce set a C$45.00 price objective on Saputo and gave the company a “hold” rating in a research note on Thursday, October 22nd. Scotia raised their price objective on Saputo from C$49.00 to C$51.00 and gave the company a “sector outperform” rating in a report on Monday. TD lifted their target price on shares of Saputo from C$51.00 to C$53.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Jefferies Financial Group cut shares of Saputo from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$48.92.

Saputo Trading Up 0.3%

SAP stock opened at C$44.46 on Monday. The company has a current ratio of 1.70, a quick ratio of 0.67 and a debt-to-equity ratio of 43.61. Saputo has a 12-month low of C$36.88 and a 12-month high of C$45.09. The stock has a market cap of C$17.46 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 0.56 and a beta of 0.16. The business’s 50-day moving average is C$40.26 and its 200 day moving average is C$41.27.

Saputo (TSE:SAP) last announced its earnings results on Thursday, November 5th. The company reported C$0.55 EPS for the quarter. Saputo had a return on equity of 8.44% and a net margin of 3.29%. The business had revenue of C$4.26 billion during the quarter. On average, sell-side analysts anticipate that Saputo will post 1.77 EPS for the current fiscal year.

Saputo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 25th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, September 15th. This is a positive change from Saputo’s previous quarterly dividend of $0.20. Saputo’s payout ratio is currently 56.25%.

Trending Headlines about Saputo

These are some of the SAP headlines that stood out recently:

• Positive Sentiment: Three reports say National Bank Financial, Ventum and Scotia expect Saputo shares to rise, suggesting supportive analyst sentiment. The headlines do not provide the analysts’ specific price targets or reasoning: National Bank Financial analyst coverage Ventum analyst coverage Scotia analyst coverage
• Neutral Sentiment: Joey Saputo has initiated a sale process for CF Montréal and has not ruled out relocation. The reports concern the soccer club, not a sale of Saputo Inc.; the available headlines do not indicate a direct effect on the company’s operations or finances. CBC News: CF Montréal sale process Sports Business Journal: sale and relocation

About Saputo

Saputo, one of the top ten dairy processors in the world, produces, markets, and distributes a wide array of dairy products of the utmost quality, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products, and dairy ingredients. Saputo is a leading cheese manufacturer and fluid milk and cream processor in Canada and a leading dairy processor in Australia. In the USA, Saputo ranks among the top three cheese producers and is one of the top producers of extended shelf-life and cultured dairy products.