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

Key Points

• Rogers Sugar Inc. shares crossed above their 200-day moving average of C$5.69, trading as high as C$6.38, with a last traded price of C$6.37.
• Desjardins upgraded the stock's price target from C$7.25 to C$7.50 and maintains a "buy" rating, while the consensus rating is currently a "Hold" with a target price of C$6.67.
• The company also declared a quarterly dividend of $0.09, representing an annual yield of 5.7%, with the payout ratio at 73.47%.

Rogers Sugar Inc. (TSE:RSI - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$5.69 and traded as high as C$6.38. Rogers Sugar shares last traded at C$6.37, with a volume of 362,407 shares traded.

Wall Street Analyst Weigh In

Separately, Desjardins lifted their price objective on Rogers Sugar from C$7.25 to C$7.50 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Rogers Sugar currently has a consensus rating of "Hold" and a consensus target price of C$6.67.

Rogers Sugar Trading Up 0.5%

The company has a 50 day moving average price of C$5.96 and a 200 day moving average price of C$5.69. The firm has a market cap of C$816.09 million, a price-to-earnings ratio of 13.00 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Wednesday, October 15th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 5.7%. 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.

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