High Liner Foods (TSE:HLF) Hits New 1-Year High - Here's What Happened

Key Points

• High Liner Foods reached a new 52-week high, trading as high as C$26.90 and last at C$26.84, with 9,338 shares changing hands.
• Analyst views are mixed, but the consensus rating is Hold; the average price target of C$21.69 is below the share price. Several firms recently raised their targets to C$27.00.
• The company reported quarterly earnings of C$0.63 per share on C$382.35 million in revenue and announced a quarterly dividend of C$0.175 per share.

High Liner Foods Inc (TSE:HLF - Get Free Report) hit a new 52-week high during mid-day trading on Monday. The company traded as high as C$26.90 and last traded at C$26.84, with a volume of 9,338 shares changing hands. The stock had previously closed at C$26.82.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HLF shares. Raymond James Financial lifted their price target on High Liner Foods from C$16.50 to C$27.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 27th. Ventum Capital set a C$16.50 price objective on High Liner Foods and gave the company a "neutral" rating in a report on Wednesday, October 21st. Canaccord Genuity Group downgraded High Liner Foods from a "strong-buy" rating to a "hold" rating in a report on Monday, October 26th. Ventum raised their target price on shares of High Liner Foods from C$16.50 to C$27.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 27th. Finally, ATB Cormark Capital Markets cut shares of High Liner Foods from a "speculative buy" rating to a "tender" rating and lifted their target price for the company from C$21.00 to C$27.00 in a report on Tuesday, October 27th. Seven equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, High Liner Foods has a consensus rating of "Hold" and an average price target of C$21.69.

High Liner Foods Stock Up 0.1%

The company has a debt-to-equity ratio of 80.12, a quick ratio of 0.38 and a current ratio of 2.29. The firm has a fifty day moving average price of C$16.92 and a 200 day moving average price of C$15.40. The firm has a market capitalization of C$751.65 million, a price-to-earnings ratio of 30.50 and a beta of 0.84.

High Liner Foods (TSE:HLF - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported C$0.63 earnings per share for the quarter. The firm had revenue of C$382.35 million for the quarter. High Liner Foods had a return on equity of 6.30% and a net margin of 2.30%. During the same quarter last year, the firm earned $0.28 earnings per share. As a group, sell-side analysts expect that High Liner Foods Inc will post 1.99 EPS for the current fiscal year.

High Liner Foods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 15th were given a dividend of $0.1750 per share. This represents a $0.70 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Tuesday, September 1st. High Liner Foods's payout ratio is presently 57.23%.

High Liner Foods Company Profile

High Liner Foods is the leading North American processor and marketer of value-added frozen seafood. Their retail branded products are sold throughout the United States, Canada and Mexico under the High Liner, Fisher Boy, Sea Cuisine and C. Wirthy & Co labels, and are available in most grocery and club stores. They also sell branded products under the High Liner, Icelandic Seafood, and FPI labels to restaurants and institutions, and are a major supplier of private-label, value-added frozen seafood products to North American food retailers and foodservice distributors.

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