Rogers Sugar (TSE:RSI) Share Price Passes Below Two Hundred Day Moving Average - Here's Why

Key Points

• Rogers Sugar shares dipped below their 200-day moving average
• Scotiabank downgraded the stock from "hold" to a strong sell and cut its price target to C$6.00, although the consensus analyst rating remains "Hold" with a C$6.90 target.
• The company yields about 5.7% after declaring a quarterly dividend (C$0.09 per share), while fundamentals show a C$812.9M market cap and a trailing P/E of 10.75.

Rogers Sugar Inc. (TSE:RSI - Get Free Report) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$6.32 and traded as low as C$6.32. Rogers Sugar shares last traded at C$6.34, with a volume of 225,578 shares changing hands.

Analyst Ratings Changes

Separately, Scotiabank lowered shares of Rogers Sugar from a "hold" rating to a "strong sell" rating and dropped their price objective for the company from C$6.50 to C$6.00 in a research note on Friday, February 6th. One research 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. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of C$6.90.

Rogers Sugar Price Performance

The company has a market cap of C$812.89 million, a PE ratio of 10.75 and a beta of 0.71. The business's 50 day moving average price is C$6.60 and its 200-day moving average price is C$6.32. The company has a quick ratio of 0.56, a current ratio of 2.20 and a debt-to-equity ratio of 92.00.

Rogers Sugar (TSE:RSI - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The company reported C$0.19 earnings per share (EPS) for the quarter. The company 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%. As a group, analysts forecast that Rogers Sugar Inc. will post 0.5597668 earnings per share for the current year.

Rogers Sugar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.7%. Rogers Sugar's dividend payout ratio (DPR) is presently 61.02%.

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. 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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