Rogers Sugar (TSE:RSI) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Rogers Sugar's stock crossed above its 200-day moving average, trading as high as C$6.53 and last at C$6.52 versus the 200‑day MA of C$6.33 on Wednesday.
• Scotiabank downgraded the shares from "hold" to "strong sell" and cut its price target to C$6.00 (from C$6.50), while the analyst consensus remains a "Hold" with a C$6.90 target.
• The company recently paid a quarterly dividend of C$0.09 (C$0.36 annualized), representing about a 5.5% yield and a dividend payout ratio near 61%.

Rogers Sugar Inc. (TSE:RSI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$6.33 and traded as high as C$6.53. Rogers Sugar shares last traded at C$6.52, with a volume of 330,144 shares trading hands.

Analyst Ratings Changes

Separately, Scotiabank downgraded shares of Rogers Sugar from a "hold" rating to a "strong sell" rating and cut their price target for the company from C$6.50 to C$6.00 in a research report on Friday, February 6th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of C$6.90.

Rogers Sugar Stock Up 0.2%

The firm has a market capitalization of C$835.97 million, a price-to-earnings ratio of 11.05 and a beta of 0.78. The business's 50-day moving average is C$6.57 and its two-hundred day moving average is C$6.33. The company has a debt-to-equity ratio of 92.00, a quick ratio of 0.56 and a current ratio of 2.20.

Rogers Sugar (TSE:RSI - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported C$0.19 earnings per share for the quarter. The business had revenue of C$298.19 million for the quarter. Rogers Sugar had a net margin of 6.00% and a return on equity of 16.98%. On average, equities analysts anticipate that Rogers Sugar Inc. will post 0.5597668 earnings per share for the current year.

Rogers Sugar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 5.5%. The ex-dividend date was Friday, March 27th. Rogers Sugar's dividend payout ratio (DPR) is 61.02%.

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. It operates in the following reportable segments: Sugar and Maple products, of which the majority of the revenue comes from sugar products. Its geographical segments include Canada, which is the key revenue generator; the United States; Europe; and others.

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