Cormark Brokers Lower Earnings Estimates for Savaria Co. (TSE:SIS)

Savaria Co. (TSE:SIS) – Cormark cut their FY2024 earnings per share (EPS) estimates for shares of Savaria in a report issued on Wednesday, April 10th. Cormark analyst K. Mcphee now expects that the company will post earnings per share of $0.87 for the year, down from their previous estimate of $0.89. The consensus estimate for Savaria’s current full-year earnings is $0.79 per share.

A number of other research firms also recently issued reports on SIS. TD Securities raised their price target on Savaria from C$21.00 to C$23.00 and gave the stock a “buy” rating in a research note on Friday. National Bankshares raised their price target on Savaria from C$19.50 to C$20.50 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Raymond James raised their price target on Savaria from C$18.00 to C$19.00 and gave the stock an “outperform” rating in a research note on Friday, March 8th. Scotiabank raised their target price on Savaria from C$17.00 to C$21.50 and gave the stock an “outperform” rating in a report on Friday, March 8th. Finally, Desjardins raised their target price on Savaria from C$22.50 to C$23.50 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Savaria currently has a consensus rating of “Buy” and a consensus target price of C$21.64.

Savaria Stock Performance

Shares of SIS opened at C$17.05 on Monday. The business’s fifty day simple moving average is C$16.62 and its two-hundred day simple moving average is C$15.23. The company has a current ratio of 1.98, a quick ratio of 0.91 and a debt-to-equity ratio of 58.17. Savaria has a 12 month low of C$12.21 and a 12 month high of C$17.70. The company has a market cap of C$1.21 billion, a price-to-earnings ratio of 29.91, a P/E/G ratio of 42.72 and a beta of 0.85.

Savaria (TSE:SIS) last issued its earnings results on Wednesday, March 6th. The company reported C$0.19 EPS for the quarter, beating the consensus estimate of C$0.18 by C$0.01. Savaria had a return on equity of 7.55% and a net margin of 4.52%. The business had revenue of C$216.84 million for the quarter, compared to the consensus estimate of C$214.78 million.

Savaria Announces Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, April 10th. Investors of record on Thursday, March 28th were given a $0.043 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.52 annualized dividend and a yield of 3.03%. Savaria’s dividend payout ratio is currently 91.23%.

Insider Buying and Selling

In related news, Senior Officer Jean-Philippe De Montigny purchased 17,980 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was bought at an average price of C$14.94 per share, for a total transaction of C$268,621.20. 19.86% of the stock is currently owned by company insiders.

About Savaria

Savaria Corporation provides accessibility solutions for the elderly and physically challenged people in Canada, the United States, Europe, and internationally. The company operates in two segments, Accessibility and Patient Care. The Accessibility segment designs, manufactures, distributes, and installs a portfolio of accessibility products, including commercial and home elevators, stairlifts, platform lifts, and wheelchair lowered-floor accessible conversions for selected brands of minivans, personal, residential, or commercial applications.