Rogers Sugar (TSE:RSI) Hits New 52-Week High - Still a Buy?

Key Points

• Rogers Sugar Inc. shares reached a new 52-week high of C$6.47 during trading, with the last trade at C$6.42 and a volume of 64,891 shares.
• Desjardins raised their target price on Rogers Sugar to C$7.50, maintaining a buy rating, while the overall consensus rating remains at "Hold" with an average target of C$6.67.
• The company announced a quarterly dividend of $0.09 per share, reflecting an annualized yield of 5.6% and a dividend payout ratio of 73.47%.

Rogers Sugar Inc. (TSE:RSI - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as C$6.47 and last traded at C$6.42, with a volume of 64891 shares trading hands. The stock had previously closed at C$6.38.

Wall Street Analyst Weigh In

Separately, Desjardins increased their target price on Rogers Sugar from C$7.25 to C$7.50 and gave the company a "buy" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Rogers Sugar has a consensus rating of "Hold" and an average price target of C$6.67.

Rogers Sugar Stock Up 0.5%

The stock has a 50 day moving average price of C$5.87 and a 200-day moving average price of C$5.65. The stock has a market capitalization of C$821.21 million, a P/E ratio of 13.08 and a beta of 0.55. The company has a debt-to-equity ratio of 104.41, a current ratio of 1.39 and a quick ratio of 0.56.

Rogers Sugar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.6%. Rogers Sugar's dividend payout ratio (DPR) is currently 73.47%.

About Rogers Sugar

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.

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