SunOpta (NASDAQ:STKL) Announces Earnings Results, Hits Estimates

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

SunOpta Stock Performance

Shares of NASDAQ STKL traded up $0.19 during midday trading on Thursday, hitting $7.45. 892,922 shares of the company’s stock were exchanged, compared to its average volume of 811,939. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.27 and a quick ratio of 0.61. The stock’s 50 day moving average price is $6.27 and its 200-day moving average price is $5.88. The firm has a market cap of $889.90 million, a P/E ratio of -5.22 and a beta of 1.83. SunOpta has a twelve month low of $3.81 and a twelve month high of $7.59.

Analyst Ratings Changes

A number of brokerages have commented on STKL. Stephens lifted their target price on SunOpta from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com downgraded SunOpta from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Finally, DA Davidson restated a “buy” rating and issued a $9.00 target price on shares of SunOpta in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

SunOpta Company Profile

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.