SunOpta (NASDAQ:STKL) Issues Earnings Results

by · The Markets Daily

SunOpta (NASDAQ:STKL – Get Free Report) (TSE:SOY) released its earnings results on Tuesday. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02, Zacks reports. SunOpta had a negative net margin of 23.23% and a positive return on equity of 6.51%. The firm had revenue of $176.22 million during the quarter, compared to the consensus estimate of $172.30 million. SunOpta updated its FY 2024 guidance to EPS.

SunOpta Price Performance

Shares of STKL traded up $0.19 during mid-day trading on Thursday, reaching $7.45. 892,922 shares of the stock traded hands, compared to its average volume of 811,939. The company has a market cap of $889.90 million, a price-to-earnings ratio of -5.36 and a beta of 1.83. SunOpta has a 1 year low of $3.81 and a 1 year high of $7.59. The firm has a fifty day moving average price of $6.30 and a 200 day moving average price of $5.89. The company has a current ratio of 1.27, a quick ratio of 0.61 and a debt-to-equity ratio of 1.67.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on STKL. Stephens increased their price objective on SunOpta from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Wednesday. DA Davidson restated a “buy” rating and set a $9.00 price target on shares of SunOpta in a research note on Thursday, October 10th. Finally, StockNews.com lowered shares of SunOpta from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Read Our Latest Report on SunOpta

SunOpta Company Profile

(Get Free Report)

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products in the United States, Canada, and internationally. The company provides plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases under the Dream and West Life brands; oat-based creamers under the SOWN brand; ready-to-drink protein shakes; and nut, grain, seed, and legume based beverages; packaged teas and concentrates; and meat and vegetable broths and stocks.

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