Scotiabank Cuts Saputo (TSE:SAP) Price Target to C$42.00

Saputo (TSE:SAP) had its target price cut by Scotiabank from C$45.00 to C$42.00 in a research note published on Tuesday morning, BayStreet.CA reports.

Other equities research analysts also recently issued research reports about the company. National Bankshares decreased their price objective on Saputo from C$41.00 to C$39.00 and set a sector perform rating for the company in a report on Tuesday. National Bank Financial lifted their target price on Saputo to C$41.00 and gave the company a sector perform rating in a research report on Friday, August 6th. Royal Bank of Canada cut their target price on Saputo from C$47.00 to C$43.00 and set an outperform rating on the stock in a research report on Tuesday. Cfra cut their target price on Saputo from C$41.00 to C$38.00 in a research report on Tuesday, August 17th. Finally, BMO Capital Markets lifted their target price on Saputo from C$41.00 to C$42.00 and gave the company a na rating in a research report on Thursday, June 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Saputo currently has a consensus rating of Buy and an average price target of C$40.89.

TSE SAP opened at C$32.18 on Tuesday. The company has a market cap of C$13.31 billion and a price-to-earnings ratio of 24.79. Saputo has a 52 week low of C$32.05 and a 52 week high of C$42.42. The business has a 50 day moving average price of C$35.25 and a 200-day moving average price of C$37.30. The company has a quick ratio of 0.54, a current ratio of 1.46 and a debt-to-equity ratio of 65.36.

Saputo (TSE:SAP) last released its quarterly earnings data on Thursday, August 5th. The company reported C$0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.28 by C$0.01. The firm had revenue of C$3.49 billion for the quarter, compared to the consensus estimate of C$3.24 billion. On average, equities research analysts anticipate that Saputo will post 2.0199999 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Shareholders of record on Tuesday, September 7th were given a $0.18 dividend. The ex-dividend date was Friday, September 3rd. This represents a $0.72 annualized dividend and a yield of 2.24%. This is a boost from Saputo’s previous quarterly dividend of $0.18. Saputo’s payout ratio is currently 53.93%.

About Saputo

Saputo Inc, through its subsidiaries, produces, markets, and distributes dairy products in Canada, the United States, Argentina, Australia, and the United Kingdom. The company offers cheeses, including mozzarella and cheddar; specialty cheeses, such as ricotta, provolone, blue, parmesan, goat cheese, feta, romano, and havarti; fine cheeses comprising brie and camembert; and other cheeses that include brick, colby, farmer, munster, monterey jack, fresh curd, and processed cheeses.

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Analyst Recommendations for Saputo (TSE:SAP)

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