Rogers Sugar (TSE:RSI) Reaches New 12-Month High – Here’s Why

Rogers Sugar Inc. (TSE:RSI)’s share price hit a new 52-week high on Thursday . The stock traded as high as C$7.06 and last traded at C$7.04, with a volume of 60957 shares. The stock had previously closed at C$6.93.

Wall Street Analysts Forecast Growth

Separately, TD Securities raised shares of Rogers Sugar to a “hold” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rogers Sugar has an average rating of “Hold” and a consensus price target of C$6.90.

Rogers Sugar Price Performance

The stock has a market capitalization of C$906.84 million, a price-to-earnings ratio of 13.34 and a beta of 0.70. The company has a debt-to-equity ratio of 88.50, a quick ratio of 0.56 and a current ratio of 2.22. The company has a fifty day simple moving average of C$6.83 and a two-hundred day simple moving average of C$6.57.

Rogers Sugar (TSE:RSI) last released its earnings results on Thursday, May 7th. The company reported C$0.14 earnings per share (EPS) for the quarter. Rogers Sugar had a return on equity of 14.94% and a net margin of 5.58%.The company had revenue of C$280.62 million for the quarter. As a group, equities research analysts expect that Rogers Sugar Inc. will post 0.5597668 earnings per share for the current fiscal year.

Rogers Sugar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.36 annualized dividend and a yield of 5.1%. Rogers Sugar’s dividend payout ratio is currently 67.92%.

Insiders Place Their Bets

In other Rogers Sugar news, insider Michael Walton sold 14,100 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of C$6.81, for a total transaction of C$96,021.00. Following the sale, the insider directly owned 246,647 shares in the company, valued at C$1,679,666.07. This represents a 5.41% decrease in their ownership of the stock. Insiders have sold a total of 58,000 shares of company stock worth $395,419 over the last three months. Corporate insiders own 0.28% of the company’s stock.

About Rogers Sugar

Rogers is a corporation established under the laws of Canada. The Corporation holds all of the common shares of Lantic and its administrative office is in Montréal, Québec. Lantic operates cane sugar refineries in Montréal, Québec, and Vancouver, British Columbia, as well as the only Canadian sugar beet processing facility in Taber, Alberta. Lantic also operates a distribution center in Toronto, Ontario. Lantic’s sugar products are mainly marketed under the ‘Lantic’ trademark in Eastern Canada, and the ‘Rogers’ trademark in Western Canada and include granulated, icing, cube, yellow and brown sugars, liquid sugars, and specialty syrups.