Rogers Sugar (TSE:RSI) Hits New 52-Week High - Here's Why

Key Points

• Rogers Sugar Inc. shares reached a new 52-week high, trading at C$6.48 with a total volume of 146,168 shares.
• Desjardins raised its price target for the stock from C$7.25 to C$7.50, maintaining a "buy" rating amid a consensus "Hold" rating from analysts.
• The company announced a quarterly dividend of $0.09 per share, providing an annualized yield of 5.6%, scheduled for payment on October 15th.

Rogers Sugar Inc. (TSE:RSI - Get Free Report) shares reached a new 52-week high on Friday . The stock traded as high as C$6.48 and last traded at C$6.48, with a volume of 146168 shares. The stock had previously closed at C$6.41.

Analysts Set New Price Targets

Separately, Desjardins upped their price objective on shares of Rogers Sugar from C$7.25 to C$7.50 and gave the stock a "buy" rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Rogers Sugar presently has a consensus rating of "Hold" and a consensus price target of C$6.67.

Rogers Sugar Stock Up 0.9%

The company's fifty day moving average is C$6.20 and its 200-day moving average is C$5.80. The company has a market capitalization of C$828.90 million, a PE ratio of 13.20 and a beta of 0.61. The company has a debt-to-equity ratio of 104.41, a quick ratio of 0.56 and a current ratio of 1.39.

Rogers Sugar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th will be paid a $0.09 dividend. The ex-dividend date is Friday, September 26th. This represents a $0.36 dividend on an annualized basis and a yield of 5.6%. Rogers Sugar's dividend payout ratio (DPR) is presently 73.47%.

Rogers Sugar Company Profile

Rogers Sugar Inc is a Canada based sugar producing company. The company along with its subsidiaries is principally engaged in refining, packaging, and marketing sugar products. The products offered by the company include iced tea mix, stevia, yellow sugar, Cubes, Coconut sugar, and other related sugar products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.