Saputo (TSE:SAP) Stock Price Expected to Rise, Scotiabank Analyst Says

Saputo (TSE:SAP) had its price target lifted by Scotiabank from C$29.00 to C$36.00 in a report published on Monday,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Several other equities research analysts also recently weighed in on SAP. BMO Capital Markets increased their price target on Saputo from C$27.00 to C$34.00 in a research report on Monday. National Bankshares raised their target price on Saputo from C$29.00 to C$35.00 and gave the company an “outperform” rating in a research report on Monday. Desjardins raised their target price on Saputo from C$31.00 to C$36.00 and gave the company a “buy” rating in a research report on Monday. TD Securities raised their target price on Saputo from C$35.00 to C$38.00 and gave the company a “buy” rating in a research report on Monday. Finally, Royal Bank Of Canada raised their target price on Saputo from C$35.00 to C$37.00 and gave the company an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Saputo presently has a consensus rating of “Moderate Buy” and a consensus target price of C$34.63.

Saputo Price Performance

Shares of SAP opened at C$32.07 on Monday. The business’s 50-day moving average is C$27.87 and its two-hundred day moving average is C$26.23. The company has a market capitalization of C$13.52 billion, a P/E ratio of -85.86, a P/E/G ratio of 0.56 and a beta of 0.32. The company has a debt-to-equity ratio of 51.68, a quick ratio of 0.67 and a current ratio of 1.53. Saputo has a fifty-two week low of C$22.59 and a fifty-two week high of C$32.91.

Saputo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 26th were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.76 dividend on an annualized basis and a yield of 2.4%. Saputo’s dividend payout ratio (DPR) is currently -203.48%.

About Saputo

Saputo is a global dairy processor domiciled in Canada (28% of fiscal 2022 sales) with operations in the United States (43%), the U.K. (6%), and other international markets (23%). It sells cheese, cream, fluid milk, and other dairy products. In the retail segment (50% of revenue), its mix of brands include Saputo, Armstrong, Cheer, Cathedral City, and Frylight.