Analysts Anticipate SunOpta, Inc. (STKL) Will Post Earnings of $0.02 Per Share
Wall Street brokerages expect that SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) will announce earnings per share (EPS) of $0.02 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for SunOpta’s earnings. SunOpta reported earnings of $0.07 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 71.4%. The firm is scheduled to announce its next earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that SunOpta will report full-year earnings of ($0.01) per share for the current fiscal year. For the next year, analysts expect that the company will report earnings of $0.16 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for SunOpta.
SunOpta (NASDAQ:STKL) (TSE:SOY) last released its quarterly earnings results on Wednesday, August 9th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The business had revenue of $336.45 million for the quarter, compared to the consensus estimate of $341.18 million. SunOpta had a negative net margin of 3.70% and a negative return on equity of 0.70%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 EPS.
A number of equities analysts recently commented on STKL shares. Zacks Investment Research downgraded shares of SunOpta from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Citigroup Inc. boosted their price objective on shares of SunOpta from $8.00 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, May 31st. Finally, BidaskClub downgraded shares of SunOpta from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. SunOpta currently has a consensus rating of “Hold” and a consensus price target of $9.30.
In other SunOpta news, insider Jeffrey Gough purchased 5,000 shares of SunOpta stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $8.70 per share, with a total value of $43,500.00. Following the completion of the transaction, the insider now owns 20,000 shares in the company, valued at approximately $174,000. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Robert Mckeracher sold 36,533 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $8.41, for a total value of $307,242.53. The disclosure for this sale can be found here. Corporate insiders own 1.88% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in shares of SunOpta in the 1st quarter valued at $515,000. Gamco Investors INC. ET AL increased its position in shares of SunOpta by 13.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 27,000 shares of the company’s stock valued at $188,000 after acquiring an additional 3,100 shares during the period. Karp Capital Management Corp acquired a new position in shares of SunOpta in the 1st quarter valued at $364,000. Trexquant Investment LP acquired a new position in shares of SunOpta in the 1st quarter valued at $181,000. Finally, OppenheimerFunds Inc. increased its position in shares of SunOpta by 13.4% in the 1st quarter. OppenheimerFunds Inc. now owns 84,465 shares of the company’s stock valued at $587,000 after acquiring an additional 9,979 shares during the period. 79.25% of the stock is currently owned by institutional investors and hedge funds.
SunOpta (NASDAQ:STKL) traded up 0.60% on Friday, reaching $8.40. The company’s stock had a trading volume of 84,181 shares. SunOpta has a one year low of $5.73 and a one year high of $10.20. The firm has a 50-day moving average of $8.82 and a 200-day moving average of $8.49. The company’s market capitalization is $726.57 million.
Sunopta Inc is a Canada-based company, which operates businesses focused on a healthy products portfolio. It operates through the following segments: Global Ingredients and Consumer Products. The Global Ingredients segment aggregates its North American and international raw material sourcing and supply operating segments focused on the procurement, processing and sale of specialty and organic grains, seeds, fruits, grain- and cocoa-based ingredients, and other commodities.
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