Rogers Sugar (TSE:RSI) Hits New 12-Month High - What's Next?

Key Points

• Rogers Sugar shares hit a new 52-week high, trading as high as C$7.06 and last changing hands at C$7.04, up about 1.9% on the day.
• TD Securities recently upgraded the stock to “hold”; overall, the analyst consensus remains Hold with a C$6.90 target price.
• The company continues to offer income support with a quarterly dividend of C$0.09, equal to a 5.1% annualized yield, while its latest quarterly results showed C$0.14 EPS on C$280.62 million in revenue.

Rogers Sugar Inc. (TSE:RSI - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The company traded as high as C$7.06 and last traded at C$7.04, with a volume of 60957 shares traded. The stock had previously closed at C$6.93.

Analyst Upgrades and Downgrades

Separately, TD Securities upgraded shares of Rogers Sugar to a "hold" rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of C$6.90.

Rogers Sugar Trading Up 1.9%

The firm's fifty day moving average is C$6.81 and its two-hundred day moving average is C$6.56. The firm has a market cap of C$905.56 million, a P/E ratio of 13.32 and a beta of 0.70. The company has a quick ratio of 0.56, a current ratio of 2.22 and a debt-to-equity ratio of 88.50.

Rogers Sugar (TSE:RSI - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$0.14 earnings per share (EPS) for the quarter. Rogers Sugar had a net margin of 5.58% and a return on equity of 14.94%. The company had revenue of C$280.62 million during the quarter. Analysts predict that Rogers Sugar Inc. will post 0.5597668 earnings per share for the current fiscal year.

Rogers Sugar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend was Friday, June 26th. Rogers Sugar's payout ratio is currently 67.92%.

Insider Activity

In other news, insider Michael Walton sold 18,400 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of C$6.82, for a total transaction of C$125,488.00. Following the sale, the insider owned 212,747 shares in the company, valued at C$1,450,934.54. This represents a 7.96% decrease in their ownership of the stock. Insiders have sold a total of 58,000 shares of company stock valued at $395,419 in the last 90 days. Corporate insiders own 0.28% of the company's stock.

Rogers Sugar Company Profile

Rogers is a corporation established under the laws of Canada. The Corporation holds all of the common shares of Lantic and its administrative office is in Montréal, Québec. Lantic operates cane sugar refineries in Montréal, Québec, and Vancouver, British Columbia, as well as the only Canadian sugar beet processing facility in Taber, Alberta. Lantic also operates a distribution center in Toronto, Ontario. Lantic's sugar products are mainly marketed under the 'Lantic' trademark in Eastern Canada, and the 'Rogers' trademark in Western Canada and include granulated, icing, cube, yellow and brown sugars, liquid sugars, and specialty syrups.

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