SunOpta (NASDAQ:STKL) Announces Earnings Results

SunOpta (NASDAQ:STKL) (TSE:SOY) released its earnings results on Tuesday. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02, Zacks reports. The business had revenue of $176.22 million during the quarter, compared to analysts’ expectations of $172.30 million. SunOpta had a negative net margin of 23.23% and a positive return on equity of 6.51%. SunOpta updated its FY 2024 guidance to EPS.

SunOpta Stock Performance

Shares of STKL traded up $0.19 during midday trading on Thursday, reaching $7.45. 892,922 shares of the stock were exchanged, compared to its average volume of 811,939. The stock’s 50 day simple moving average is $6.27 and its 200 day simple moving average is $5.88. The company has a market cap of $889.90 million, a P/E ratio of -5.22 and a beta of 1.83. SunOpta has a twelve month low of $3.81 and a twelve month high of $7.59. The company has a quick ratio of 0.61, a current ratio of 1.27 and a debt-to-equity ratio of 1.67.

Analysts Set New Price Targets

STKL has been the topic of a number of research analyst reports. StockNews.com cut shares of SunOpta from a “hold” rating to a “sell” rating in a report on Friday, November 1st. DA Davidson reiterated a “buy” rating and set a $9.00 target price on shares of SunOpta in a research note on Thursday, October 10th. Finally, Stephens increased their price target on SunOpta from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, SunOpta has an average rating of “Moderate Buy” and a consensus price target of $9.50.

SunOpta Company Profile

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products in the United States, Canada, and internationally. The company provides plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases under the Dream and West Life brands; oat-based creamers under the SOWN brand; ready-to-drink protein shakes; and nut, grain, seed, and legume based beverages; packaged teas and concentrates; and meat and vegetable broths and stocks.