Saputo (SAP) Price Target Cut to C$48.00

Saputo (TSE:SAP) had its price target trimmed by Desjardins from C$49.00 to C$48.00 in a report issued on Wednesday. The firm currently has a buy rating on the stock. Desjardins also issued estimates for Saputo’s Q4 2018 earnings at $0.44 EPS, FY2018 earnings at $1.89 EPS and FY2019 earnings at $2.14 EPS.

A number of other research firms have also weighed in on SAP. TD Securities set a C$52.00 target price on shares of Saputo and gave the stock a buy rating in a report on Wednesday, January 3rd. National Bank Financial decreased their target price on shares of Saputo from C$49.00 to C$46.00 and set a sector perform rating on the stock in a report on Friday, February 2nd. CIBC decreased their target price on shares of Saputo from C$52.00 to C$51.00 and set an outperform rating on the stock in a report on Friday, February 2nd. BMO Capital Markets decreased their target price on shares of Saputo from C$47.00 to C$44.00 and set a market perform rating on the stock in a report on Friday, February 2nd. Finally, Royal Bank of Canada decreased their target price on shares of Saputo from C$49.00 to C$48.00 in a report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of C$48.43.

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Shares of SAP stock opened at C$40.48 on Wednesday. Saputo has a 12 month low of C$39.08 and a 12 month high of C$47.59.

Saputo (TSE:SAP) last announced its quarterly earnings results on Thursday, February 1st. The company reported C$0.47 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.51 by C($0.04). The business had revenue of C$3.02 billion for the quarter, compared to analysts’ expectations of C$2.93 billion. Saputo had a net margin of 11.15% and a return on equity of 30.30%.

The company also recently announced a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Tuesday, March 6th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Monday, March 5th.

In other news, insider Carl Colizza sold 4,728 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of C$40.50, for a total value of C$191,484.00. Insiders have purchased a total of 433 shares of company stock worth $17,418 in the last ninety days.

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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.

Analyst Recommendations for Saputo (TSE:SAP)

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