CIBC Issues Pessimistic Forecast for Saputo (TSE:SAP) Stock Price

Saputo (TSE:SAP) had its price target decreased by CIBC from C$35.00 to C$32.00 in a research report released on Thursday,BayStreet.CA reports.

SAP has been the topic of several other reports. BMO Capital Markets dropped their price objective on shares of Saputo from C$30.00 to C$27.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Desjardins set a C$34.00 target price on Saputo in a research note on Monday, November 11th. Royal Bank of Canada cut their price objective on Saputo from C$39.00 to C$38.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. National Bankshares decreased their price target on shares of Saputo from C$31.00 to C$28.00 in a research note on Wednesday, January 15th. Finally, Jefferies Financial Group lowered their price objective on Saputo from C$36.00 to C$32.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$32.56.

Saputo Price Performance

SAP opened at C$24.43 on Thursday. The company has a market capitalization of C$10.37 billion, a price-to-earnings ratio of 38.78, a PEG ratio of 0.56 and a beta of 0.32. The company has a current ratio of 1.59, a quick ratio of 0.67 and a debt-to-equity ratio of 53.17. Saputo has a 12-month low of C$22.59 and a 12-month high of C$32.15. The business’s fifty day simple moving average is C$25.05 and its 200-day simple moving average is C$27.83.

Saputo (TSE:SAP) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.39 by C($0.02). Saputo had a net margin of 1.50% and a return on equity of 3.72%. During the same period in the previous year, the company earned $0.43 earnings per share. On average, equities research analysts anticipate that Saputo will post 1.7735369 earnings per share for the current fiscal year.

Saputo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 20th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Tuesday, December 10th. Saputo’s dividend payout ratio (DPR) is presently 120.63%.

Insiders Place Their Bets

In related news, Senior Officer Leanne Cutts bought 4,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased at an average cost of C$26.25 per share, for a total transaction of C$105,000.00. 40.45% of the stock is currently owned by company insiders.

About Saputo

Saputo Inc 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.