Rogers Sugar (TSE:RSI) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• Passed above its 200‑day moving average: Rogers Sugar's stock climbed above its 200‑day MA of C$6.30, trading as high as C$6.68 and last at C$6.66 on a volume of 277,163 shares.
• Scotiabank downgraded the stock to a "strong sell" and cut its target to C$6.00, yet the analyst consensus remains a "Hold" with an average target of C$6.90.
• Income note: the company declared a quarterly dividend of C$0.09 (annualized C$0.36) for a 5.4% dividend yield, ex‑dividend on March 27 and a payout ratio of about 61%.

Rogers Sugar Inc. (TSE:RSI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$6.30 and traded as high as C$6.68. Rogers Sugar shares last traded at C$6.66, with a volume of 277,163 shares.

Analysts Set New Price Targets

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

Rogers Sugar Stock Performance

The company has a market capitalization of C$853.92 million, a price-to-earnings ratio of 11.29 and a beta of 0.89. The stock has a fifty day moving average price of C$6.53 and a two-hundred day moving average price of C$6.30. 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 EPS for the quarter. The business had revenue of C$298.19 million for the quarter. Rogers Sugar had a return on equity of 16.98% and a net margin of 6.00%. As a group, analysts forecast that Rogers Sugar Inc. will post 0.5597668 EPS for the current fiscal year.

Rogers Sugar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Friday, March 27th. Rogers Sugar's dividend payout ratio (DPR) is currently 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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