Rogers Sugar (TSE:RSI) Shares Cross Above 200-Day Moving Average - What's Next?

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 stock 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 changing hands.

Analyst Ratings Changes

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

Rogers Sugar Price Performance

The firm has a market cap of C$812.24 million, a P/E ratio of 12.94 and a beta of 0.61. The firm's fifty day simple moving average is C$6.01 and its 200 day simple moving average is C$5.71. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 5.7%. The ex-dividend date is Friday, September 26th. 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.