Rogers Sugar (TSE:RSI) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Rogers Sugar's shares recently crossed above the 200-day moving average, trading as high as C$6.41, with the last recorded price at C$6.37.
• Desjardins increased their price target for the company from C$7.25 to C$7.50, maintaining a "buy" rating amidst a majority consensus rating of "Hold."
• The company declared a quarterly dividend of $0.09 per share, set to be paid on October 15th, representing an annualized yield of 5.7%.

Shares of Rogers Sugar Inc. (TSE:RSI - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$5.76 and traded as high as C$6.41. Rogers Sugar shares last traded at C$6.37, with a volume of 436,680 shares.

Wall Street Analysts Forecast Growth

Separately, Desjardins upped their price objective 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 investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Rogers Sugar has a consensus rating of "Hold" and a consensus price target of C$6.67.

Rogers Sugar Price Performance

The business's 50 day moving average is C$6.13 and its two-hundred day moving average is C$5.76. The company has a debt-to-equity ratio of 104.41, a quick ratio of 0.56 and a current ratio of 1.39. The firm has a market capitalization of C$816.09 million, a PE ratio of 13.00 and a beta of 0.61.

Rogers Sugar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 15th will be given a $0.09 dividend. The ex-dividend date is Friday, September 26th. This represents a $0.36 annualized dividend and a dividend yield of 5.7%. Rogers Sugar's payout ratio is 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.