High Liner Foods (TSE:HLF) Sets New 12-Month High - Should You Buy?

Key Points

• High Liner Foods reached a new 52-week high, trading at C$26.83 and last changing hands at C$26.80, with a market capitalization of approximately C$750 million.
• Analyst sentiment is generally cautious: seven analysts rate the stock “Hold,” while the consensus price target is C$21.69, below its current price. Several firms recently raised targets to C$27 but maintained neutral or market-perform ratings.
• The company reported quarterly EPS of C$0.63 on revenue of C$382.35 million and pays a quarterly dividend of C$0.175 per share, equivalent to an annualized C$0.70 dividend and a 2.6% yield.

High Liner Foods Inc (TSE:HLF - Get Free Report) reached a new 52-week high during trading on Tuesday. The stock traded as high as C$26.83 and last traded at C$26.80, with a volume of 34,023 shares traded. The stock had previously closed at C$26.78.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. ATB Cormark Capital Markets lowered High Liner Foods from a "speculative buy" rating to a "tender" rating and increased their price objective for the company from C$21.00 to C$27.00 in a report on Tuesday, October 27th. Canaccord Genuity Group downgraded High Liner Foods from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 26th. Ventum Capital set a C$16.50 price objective on shares of High Liner Foods and gave the company a "neutral" rating in a report on Wednesday, October 21st. Raymond James Financial increased their price objective on shares of High Liner Foods from C$16.50 to C$27.00 and gave the company a "market perform" rating in a research report on Tuesday, October 27th. Finally, RBC Dominion Securities lifted their target price on shares of High Liner Foods from C$18.00 to C$27.00 and gave the stock a "sector perform" rating in a research note on Tuesday, October 27th. Seven investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, High Liner Foods has an average rating of "Hold" and a consensus target price of C$21.69.

High Liner Foods Stock Performance

The company has a market capitalization of C$749.97 million, a price-to-earnings ratio of 30.43 and a beta of 0.57. The stock has a fifty day moving average price of C$15.99 and a two-hundred day moving average price of C$15.16. The company has a quick ratio of 0.38, a current ratio of 2.29 and a debt-to-equity ratio of 80.12.

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

High Liner Foods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.1750 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.6%. High Liner Foods's dividend payout ratio (DPR) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.